You can always make bolts.
I much prefer Vampirism because i'm only ever able to play stealth characters and lycanthropy doesn't really suit a stealth playstyle.
Also I really love illusion magic; it's great casting frenzy and then invisibility and watching your enemies rip each other apart.
With that being said i'm still undecided on whether to accept Aela's gift on Amelie, or even join the companions at all.
Lycanthropy doesn't detract from stealth. I've actually had a ton of fun playing my stealth-based werewolf build (there's a link in my profile if you want to check it out). It's awesome having a sneak character who, if detected at a bad time, can just transform and destroy everything in front of him in seconds. With all the perks from DG, werewolves become much more viable at higher levels, and with the Ring of Hircine, you can transform at will, just like Vampire Lords.
I had trouble adjusting to the gameplay of VL form, but the werewolf's beast form came very naturally to me. The boosts to stamina and stamina regen, coupled with the dramatically improved sprint speed, make traveling a breeze. Granted, I haven't played a fully perked VL yet, so I don't know what I'm missing on that front.