No way is it going to be one year, way too many plot threads. Take Bacon's diary, it's not going to become relevant until Harry has the chance to start to read it, which he currently thinks requires learning Latin first.
So, I don't so much mean one year vs. 7+ of in-universe time; I mean one JKR book-length vs. 7+ JKR book-lengths worth of writing. (I.e., is Eliezer shooting for 75kword, 1.1Mword, or something else.) Should have been more clear about that.
Update: This post has also been superseded - new comments belong in the latest thread.
The second thread has now also exceeded 500 comments, so after 42 chapters of MoR it's time for a new thread.
From the first thread: