Note: you CAN have hatred on an elector count, and other re-roll to hits. Warrior Priests and the lore of heavens, for example.
2 Autowounds a turn is pretty equivalent to your Chaos lord trying to hit a dawn-armoured or AMI hero/lord.
I am just afraid that 18" is too much. That said, it would provide the incentive to take him. I am seriously considering dropping this option anyways, because it becomes a shoe-in. For 30 points there is no reason not to take it.
I was considering making them incompatible, but am still undecided. It makes sense to me that an Elector Count can also be a veteran general.
I am still hung up on the point values for the Runefang. I agree that 75 points of items is too much, but feel that 150 is the maximum limit to pay for the ability. I am leaning towards a compromise of 120 points for the Elector Count upgrade, and 50 points of items.