Eliezer is already way over 1 book length (265k words, more than even Order of the Phoenix), I don't see him finishing the story short of at least 600k words, probably considerably more.
I feel like the story is more than halfway done already, although I'd be pleasantly surprised to be wrong.
Update: This post has also been superseded - new comments belong in the latest thread.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: