Here is the difference between regular vampire, werewolves and vampire lords. Vampires: Best for solitary stealth based players in their humanoid form. Werewolves: Best for group based brute attackers or solitary hunters of wide areas. However, it offers no advantages when the player is in normal humanoid form, as far as I am aware of. Also, once you become a werewolf, you cannot turn back into a humanoid until your time ran out. Once out of werewolf form, you cannot turn into your beast form until 24hrs had passed. Then again, the werewolf formation was really meant to be a curse... Vampire Lords: Best to just cause a lot of death within a wide area. It is powerful, but slow and unable to walk properly through narrow hallways. However, you at least get to have control on when you transform and how many times you wish to do so. This is not means to be a curse, but a gift to a curse (vampirism). My opinion: I personally would rather use my high leveled character in humanoid form, so normal vampire wins to me. However, I enjoy the fierce rooming and hunting of werewolves, which would be the only reason why I would even bother with the beast formation option. Vampire Lord is really just good if you wish to end your Skyrim experience by becoming the terror that kills everyone. Outside of this, it has very little value to me.