Valanar to me seems almost a Garden of Eden, but Ilúvatar proves rather more benevolent than Yahweh. Rather than a forbidden fruit from the tree of knowledge we have the creation of life. Which by Christian standards and morals strikes me like the larger transgression. So Aulë so desired Children to pass on his knowledge to that he formed the Dwarves, and Ilúvatar shows compassion in the face of Aulë's demonstrated humility, awarding the Dwarves a place in the world. Even if that place comes after a long hibernation so that the Elves can still be the First. I guess the crime in Eden could be considered Pride, a sin Aulë debased himself against.
The Seven Father of the Dwarves are laid to rest, to reawaken once the children of Ilúvatar come forth. Perhaps most interestingly is the Dwarven belief of the afterlife, where they go to their maker's halls, and to serve beside im in the remaking of the world after the Last Battle. While clearly different, it brings to mind Valhallah and Norse concepts of the afterlife.
An odd, and perhaps uncomfortable tension exists between Aulë and Yavanna. The husband and wife have different passions, his of the working of stone and metal, she of the growing things. Both of the Earth, but with profoundly different relationships to it. I can't tell from the wording if Yavanna deliberately withholds her blessing or if because they were birthed without her presence they will have no love for her works. Regardless of the intent of her words... there's some marital strife. I feel like Aulë is a little blase, but he has a point as well, whereas Yavanna holds to this idealistic but limited world view. The world, and song, of Ilúvatar is not one of pure harmony, but one of distinct melodies growing, changing, and at times, conflicting with each other. Aulë may have been tactless in his remark that his children will need wood, but he spoke only the truth... and not only for that of the Dwarves.
As almost an afterthought, we get mention of what become the Ents and the Eagles. Yavanna is excited by these spirits, the kelvar and the olvar, that will serve as nature guardians. But says "only the trees of Aulë will be tall enough." That is, the Eagles will make their homes in the mountains while the Ents will serve as Tree Shepherds in the forests. It possesses a fitting symmetry, and the origins of the Ents is one that I've been curious about for some time.