I created a fully functional toribash rig in Autodesk Maya, I'm taking a class in it in NYC, and today was day two.

I haven't figured out how to keep it from stretching and squashing when I move it, working on that.

C&C Please.

not bad, proportions look ok and all that.

might want to try using IK (inverse kinetics)

not sure if maya has it, but that's how I made the C4D rig. Plus, that way you don't need to worry about bones :P

I used something called The Setup Machine, which is a plugin.
I think that's what you are talking about, but I'm not sure.
Any idea how to fix the smushing and stretching that occurs when the rig is moved?

Pretty good!

and this is only 2 days.... impressive.

well it has something to do with strength. when I created my rig, I joined the joints to the parts (ankle and foot are one object, leg and knee joint are one object etc.)

then I set up some IK chains, (MAKE SURE YOU READ UP ON IT AND SET UP THE AXIS CORRECTLY) and that's it. with IK chains, it's not a normal rig, it's just moving parts, with a rig like you've set up, it calculates distortion. I'm not a maya user, and I've never used that plugin, so I can't tell you how to do it like that. But if you decide to go the route of IK, give me a pm or something, I'd be happy to help ya ^^

The legs interacting with the glutes are a bit off.

The pecs and torso area are just a bit too big.

Its very good for your first two days.