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I have been struggling to decide which HQ best fits this list, and I wanted to know what you think.

Lord of Change
+ ML 3
+ 2 Greater Rewards
+ Lesser Reward (Staff)
-or-
Kairos Fateweaver


Points: 1850

HQ:
2x Herald of Khorne
+ Exalted Reward (portal and grimoire)
+ Greater Locus of Fury
+ Juggernaut of Khorne

Troops:
4x 10 Plaguebearers of Nurgle

Fast Attack:
2x 15 Flesh Hounds

Heavy Support:
2x Soul Grinder
+ Daemon of Slaanesh
+ Baleful Torrent

Fortification:
Aegis Defense Line

Explain how you will use the ADL.
My idea was to deploy it forward, thus giving the Hounds a good cover save.

The LoC will be better in CC and against Flyers.
But you've already got a lot of CC and two Grinders to help against Flyers.
Fateweaver's two re-roll abilities do a lot to control the randomness that is Daemons. Fatey is also better at shooting, and your list lacks that. Thinning out Marines at range (with AP1/2) will help a lot once your Hounds finally make it to their lines.

Also, if you're running so many hounds...you should take Karanak!

You may want to do another poll of plaguebearers or pink horrors. I've used both and find pink horrors to be a little bit better but you do need the squad size of them to be 11.

Fateweaver Hands down.

He is the lynchpin of any deamon army.

Also I second considering pink horrors over plaguebearers.