When it comes to the duration, bonuses, and perks rather than a fight between them then yeah, the vampire lord is definitely better. However, copying the vamp lords by giving werewolves infinite transformations and durations pretty much renders the ring of hircine as a useless trophy and destroys most of the aspect of feeding.
Instead, I think Bethesda should take a soul gem-like approach when it comes to feeding and the duration of werewolves.
So by feeding off of:
Petty souled creatures (rabbits, Goats, rabbits) : Heal 25 points add 30 seconds
Lesser souled creatures (troll) : Heal 75 points of health add 1 minute
Common souled creatures (Bears) : Heal 100 points add 2 minutes
Greater souled creatures (Charus reaper) : Heal 150 points add 3 minutes
Grand souled creatures (mammoths) : Completely Heal player add 4 minutes
I think this would be allot more fair to werewolves while not completely changing how they tick.