Base damage starts at 20 I believe and caps at 80 at level 40. So fully perked, it's 160 damage you are doing no counting power attacks.... quite decent if you ask me.
Sounds more than enough to me...if you think about the attack speed and power attacks as you said.
There is only thing i dont like about the new perk tree.You can still have only one totem active at the time.Okay maybe it would be to powerful to change totems on the fly like the Vamp Lord.
I think they did a good job with the werewolf this time,alot more balanced than before.The Vamp Lord on the other hand is absolutely OP.