I see plenty of use for him. Forget looping, 2cc to get an ally back from the graveyard and add an extra 3/1 to the table into the deal is pretty efficient to me.
Played onto an empty board on t2 he will eat any human 2 cc ally which stifles opponents play options, if you can't play him safely why not just hold him in hand until latter in the game when you need reinforcements? Drop him to get dreadwolf, swing with hasty wolf and then stealth them both.
If you has an ability that cost 2 cc and said: return any wulven ally to your hand and put a 3/1 ally into play do you think it would get play? Consider that wulven rally. Also 2 cc gives you a wulven ally back but only puts the second one on top of your deck stifling your next draw. Shaman is essentially wulven rally but instead of putting a second ally on top of your deck and stifling. Your draw it puts a 3/1 straight into play at no additional cost.
Played early it's a solid threat, played later it's efficient recursion and combined with free stealth to protect it it's a bloody good Package!
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