Altera Devices with built-in Clock ???

You do not need to send the clock out a pin and back in a pin (unless that is the only way to use a global in MAX II--I didn't check that). Going out of the device and back in won't help with any of the timing issues.

Most of the timing issues with a global divided-down clock are for paths that cross to and from the divided-down domain. As I said before, you'll probably be OK if you have all your logic on the divided-down clock and make it global. If you will have logic on more than one clock with synchronous paths between the domains, then beware of the caveats I posted in the other thread.