*cracks knuckles*
To start with, you're a few points over, don't think you factored in the 60 points for the 1000 Sons sorcerer. Rather than burning your list to the ground and rebuilding with cheddar, here's my take on your list:
HQ
Sorcerer -
MoT, warptime = 155
ELITES
Dreadnought - heavy bolter, extra armor = 120
TROOPS
10
CSM - IoCU, plasma gun, missile launcher,
AC w/ powerfist = 215
10
CSM - IoCU, plasma gun, missile launcher,
AC w/ powerfist = 215
9 1000 Sons -
AS w/ warptime, melta bombs, icon = 279
Rhino = 35
8 Berzerkers -
SC w/ powerfist, icon = 213
Rhino = 35
8 Lesser Demons = 104
FAST ATTAK
3 Bikers - IoCU, 2 meltaguns = 129
TOTAL
1500
Sorcerer > I've never seen the palanquin run, so I had to check it out. T5 W4 A4 seems ok, but is also slow and not really that great for 30 points. Also, a nurgle leader with no other nurgle troops? Partially for fluff and also for sorcerous effectiveness I made him Tzeentch and swapped for warptime. Doombolt is nice for the shooting, but warptime + a force weapon is nicer in combat. The idea is he rides up with the 1000 Sons, or hangs where you expect big things to hit your lines.
Dread > Alright, a dread

First, don't expect him to do a whole lot, and brace for him hurting your own boys some. That said, great models and almost always come through for me somehow. He needs armor though, especially if he wants to spazz out and run forward. Pop smoke, suck up those shaken results and then run into combat for the smashing. Twin heavy-b's is cool with me, though anti-tank would be preferrable (maybe missile launcher +
ccw instead).
CSM Squads > Gave them plasma for bite, and missiles for ranged anti-tank. These 2 squads can be your fire base, but do NOT just expect to put them down and launch those kraks at things. With 8 bolters + 1 plasma that squad can put out great suppression fire when on the move, and don't be afraid to move them into position and then bunker down and go to work.
1000 Sons > A brutal squad, tough and with loads of AP3 to jam out there. Note that the warptime sorcerer can reroll his melta bomb, so if a dread gets in there he could save the robots' bacon. A rhino means you can power them where they need to be, hop out and then unleash, giving them an effective 24" range for rapid fire (17 S4 AP3 shots) or 36" range for slow-and-purposeful single tap (8 S4 AP3 shots). Also puts another rhino on the table, and if it blows the fearless troops inside don't care. Also note that they don't need to be IN their rhino, but can use it as shelter, or loan it to another squad for transport.
Berzerkers > Good call on the rhino, as fearless troops don't care if their ride dies in 5th. The other Sons' rhino should help this one live.
Demons > Nice! Demons always come through for me, way to be. Also note that I added a LOT of icons for them to use, particularly the biker one and the berzerker one. Perviously you had ZERO icons for them!
Bikers > Yeah, I never know what to expect from bikers, but this seems like a solid anti-tank build. Which is good, cause you're hurting for anti-tank. Lowish points, 2x meltas, icon for the summon and reroll.
I like the army myself, good variety and should make for good high-pressure games as your chaos boys get up in the enemy face early. And in the case of genestealers and armies that assault YOU, you've got the firepower to hit them as they come in and then counterattak for total carnage.
- Salvage