As Rush007 mentions, the biggest problem with going the S&B wolf druid route is the lack of +[W] modifiers. Shillelagh will carry over if you have a wooden club or scepter equipped; but that's a whoppin' 1.5[d10] base dmg.
Compared to all the epic weapons with 2.5[W] modifiers and higher base dmg, it's pretty anemic; factor in ED bonuses to weapon dmg and wolves pale in comparison.
Drunken wolf builds are quite a bit better off, as any +[W] modifiers for unarmed combat will carry over. Furthermore, you can now add higher-tier monk stances as chooseable feats. I think if you have a staff equipped, the +1[W] from Shillelagh will also carry over, but the downside is you can't get any (passive) bonuses from having an offhand weapon like you would from, say, two kamas.