It's not as overpowered as some would think. On Master difficulty, facing multiple groups of enemies, I actually do much better with the Werewolf. I think Werewolves should have gotten a favorite menu to switch between the three howls at will, but besides that, I believe they are good where they both are. (Keep in mind Serana following you also bugs VL's Drain Life spell.)
Well, it isn't over powered in the damage respect for sure, but it is in a way overpowered they way I mentioned it. But, the werewolf really should have a favorites menu.
Let's not get TOO far off topic.