That was quite the chapter to give us. I enjoyed the wrapping up of the second year at Hogwarts and the discussions of electives. Is Hermione going to try the "time turner" number this time? The training Harry's getting and the folk he runs into are quite plausible. It's quite believeable that Riddle would be willing to do 'most anything to get knowledge of how to make horcruxes (I still think the plural s hould be horcruci). It'll be interesting to see how the different factions within the Brotherhood deal with what's developing in the magical and muggle worlds.
The anti-horcrux spell sounds like one of the "last-ditch" weapons you hope you'll never need. If they do manage to get all of the horcruxes in time, it'd also come in right handy for dealing with the reincarnated Riddle in the graveyard, fourth year.
Hermione doesn't need the time turner, and I don't need her to have it as a plot device. I think you're right about horcruxes, but since they aren't speaking Latin they can make it regular in English instead of Latin.
As for the spell, if I end the story at the end of year 4, that will be how I end Riddle. If not, then Harry will miss -- -BEG-