As far as crafting is concerned, wolves don't bring anything special to the table. They have the basic animal limitations with gathering wood and the inability to play music for your crops, and their only real advantage is that they can easily bypass them by transforming into a human(Except of course during the full moon, but you'll be too busy with wolf quests to have time for crafting then). They do have a few lycanthrope specific alchemy recipes, but they're rare and not particularly useful.
The real reason you become a werewolf is because it's a fun combat skill. It's got high damage, decent survivability, and quite a few cool spells to play with, and since a lot of your training comes from the Altar of Norala, it's a lot cheaper than the likes of mentalism or fire magic(Sanja's still going to be eating a lot of your money though).

I highly suggest making an alt and trying out lycan for a bit before committing to it on your main. It's a lot of trouble to go through, but it's much less of a hassle than becoming a wolf on your main, finding out you hate the skill and then basically being unable to play for three days every month. You should really only become a wolf if you want it as your main skill. It doesn't have to be your only skill, especially since you can shapeshift in combat, but you'll want to keep it maxed so you can still fight stuff during the full moon.