Werewolves are extremely underpowered at high levels where as Vampire does not. At least through my experience anything above 45 being a werewolf the one and only benefit of being one is the speed.
http://www.youtube.com/watch?v=Ev1Vsnf6LGs
Werewolves are extremely underpowered if you don't think smart. Blindly charging in through traps, spells and what not will get you killed.
No, if you use your fear cleverly and maintain your blood thirst, while watching out for traps and mages, then lycanthropy can be useful.
Hell I use lycanthropy my level 46 character to clear out humanoid dungeons all the time and you know what? it's easy as pie.
You get fantastic spells, bonuses to sneak and illusion, strength bonuses. The only downsides are that you can't go in the sun and people attack you (fire damage is nothing to me), but you can control your level very easily if you just feed, which is not difficult. Especially if you remember to use that handy invisibility power it grants you.
People constantly compare Vampirism to Lycanthropy. They say that Werewolves are better simply because there are no negative effects. Well they aren't being fair. You can only get those bonuses while in your werewolf form, at which point you're attacked on sight (sound familiar?). Vampires however can have their full bonuses available to them throughout an entire dungeon. Don't think that I'm saying vampires are better, because I'm not. I'm simply saying that they are equal, and neither is better than the other. However playstyles may favor one to the other.
It's extremely easy to feed every day or two while in the city, then stop feeding when you want to fight a dungeon.
[Though I will give you one thing. Having to manage yourself to have a follower does svck]
Why the vampire hate you ask?
Well most of the vampire bonuses can be gained via perks, which makes it useless to the playstyles it should aid.
And the feeding is a complete chore, lending one to wish for there to be feeding finishers to make it less of an annoyance.
Lorewise they don't fit at all with what we previously knew of the vampires in Skyrim. And hell, a cyrodillic vampire shows up:
Movarth Piquine, whom which you can contract the Skyrim vampirism from.
This would almost confirm the fact that it's not Sanguinaire Vampiris or volkihar vampirism, but just a downgraded Porphyric Hemophilia.
To the wider audience the vampirism resembles that which is shown in the Twilight saga: demonic/snake eyes, unchanged face (in most stages)
and the ability to walk in the sun, albeit with disabilities in Skyrim. This also can give the impression of Bethesda trying to buy into new audiences.
Most loyal fans could see as betrayal on Bethesda's part, for they are selling themselves out to a worse fanbase, and for what? more money?
I myself am greatly saddened by the lack of the frostwalker vampirism which we were told about in Immortal Blood.
And just like Bethesda now only making TES games in human/non-alien provinces, this angers me a lot.
So I take my anger out on Bethesda and the vampirism which they so created. For I can do nothing else to sate my need for.. retribution?