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Lords (250 pts)
Master Necromancer, Level 4, Talisman of Endurance, Master of the Dead, 250

Heroes (185 pts)
Necromancer, Corpse Cart, Unholy lodestone, 185

Core (269 pts)
20 Skeleton Warriors, Musician, Banner, Gleaming Pennant, 125
18 Dire Wolves, 144

Specials (300 pts)
10 Hexwraiths, 300

Hmm, well...
First, is 18 Direwolves really worth it? Direwolves to me feels like they're not worth it in large numbers. They are supposed to be expendable.
That said, it might work, as I've never tried it. Just don't count on it. Consider dropping them to two units of five and adding more skellies / zombies.
Then there's your special. Hexwraiths are, well, not so good. Especially at this point level with so few units. And they're better in groups if five, I think.
Really, they have more of a supportive role... And right now there's not a lot to support.
I would trade them for something with a little more oomph, something that's strong and hit hard.

Woah 2 things stand out big time. One way too many dire wolves and 2 that block of hexwraiths will not earn the pts back. Too few attacks and not very durable.

There is a thread about Hexwraiths here:
http://www.dakkadakka.com/dakkaforum/posts/list/423733.page

If you read it you can see that Hexwraiths arn't horrible at all, but have a specialised role that only becomes key later on. I would concur that you should shelve this idea for now.

It looks like you're going for a lot of mobility-which is great IMO. The Direwolves are decent redirector/blockers, but you need to split them. At this point level, 3x5 would be overkill really-so the suggestion of 2x5 is good and you could always add another unit later on.

The points you saved could be used for lots of good stuff. Being realsitic, I think more core is the way to go, with maybe a Wraith or Banshee hero. If you wanted to remain mobile, then Black Knights would be a better choice than Hexwraiths.While I love the idea of a cavalry army, I really want to re-iterate that, IMO, you should get more core