Wolf form itself sucks, and conceptually I wish I hadn't become a werewolf at this point. The actual transformation seems to take about 10 seconds to activate, and in combat that can and will get you killed during the animation. Once you're a werewolf you lose everything. You can't use magic, shout, your enchantments don't work and your weapons don't work. Werewolf damage seems to be based on your one-handed skill, so if you haven't been working on that, forget about it altogether, and even if you have, I've read that it doesn't scale particularly well. The only way to recover health as a werewolf is to feed on the dead bodies you've created, but that's another animation in which you are getting hit by enemies. The best thing werewolf has going for it is when a guard says to you: "So you're the new companion I've been hearing about. So... what... you fetch the mead?" "Well actually..." (press Z) RRRWWAAARRR!!!!! Then there's the issue where if you choose not to change back during the actual quest line you end up having to run a tedious series of repeatable missions until you trigger the option again. You cannot just walk up to the alter and revert yourself back whenever you want. And it may not matter too much to you, but over time losing out on your ability to have a rested bonus will add up.