So, I'm a High Elf mage in the game right now and I completed the Companions questline to fuel my curiosity and was stunned when I found out there were Werewolves. My strategy with being a Werewolf was to turn into one when I had no more potions or magicka that I could use. Is this a good strategy?
Good and bad strategies are somewhat subjective, but I have had good luck with a similar strategy (archer/werewolf, transform when the time for sniping is over).
The issue you'll run into is if you don't focus enough on werewolf, you might have trouble getting your perks up to where they stay competitive late game.
Sure, this is a fine strategy. I personally never cared for the werewolf transformation but to each their own.
Usually a melee build works better for the werewolf build because some of the skills apply while you're transformed.
As a mage, though, you might be better off kiting until your magicka comes back.