Okay I will comment properly later. this chapter is made of awesome!!!!! Bruuuuuuce! Claaaaark! and OMG Gordon!!!!!!! and clark calling Luthor Lex gives me delicious Smallville tingles. I think you wrote his reaction very well.
there was a tiny tense error in the beginning. it should read: Clark *held* not hold. brilliant plan of bruce and OMG does Luthor know his real story???????!!!!!!!!