After deciding on making a Dwarven Physad for my new character (despite a GM friend practically chanting to me that "Orks make the best Adepts!"), I'm trying to work out the basic build. I already have the background and personality defined pretty well, but I'd appreciate some input on how to get the most out of the starting points. Creation method is the usual priority system. (A, B, C, etc.).

-No race variations allowed. Just plain Dwarf.
-No albinos.
-No Edges/Flaws. The GM is not using them.
-No starting cyberware or bioware. Purely magical Physad.
-Good Stealth, low emphasis on unarmed combat. He's not primarily a B&E character, but will expand into that soon.
-Weapon talents divided between a melee weapon (probably an axe, certainly not a sword) and a good SMG.
-Decent reflexes; the idea of an amazingly fast dwarf amuses me quite a bit.
-Finally, no more than 3 points of geased powers. Also, not more than 3 levels of Improved Comabt Ability for each ability. I'm not trying to build those 22-dice rolling gunfighters, but a skilled semi-generalist. (Did I really type that?)

Thanks in advance for any assistance!

Umm, it sounds like you already have it all worked out from your post. Just make sure you put 6 in your Quickness attribute, both for the linked skills (SMG and Stealth) and the movement rate (dwarves have a x2 movement modifier, which can hurt big-time).

Sample build:

Body: 5 + 1
Quickness: 6
Strength: 4 + 2
Charisma: 4
Intelligence: 6
Willpower: 5 + 1

Skills
Unarmed 6
SMG 6
Stealth 4
Athletics 6
Etiquette 4
Electronics 4
Electronics B/R 4

Magic
Improved Reflexes 2
IA: Stealth 4 (geas)
Kinesics 2 (geas)
IS: Microscopic Vision
IS: Flare Compensation
IS: Sound Dampening