Welcome to the forums, Ninjaspud.
Lycanthropy can be earned early at the werewolf level in the gloomy caves (~GC 2-4), by eating the werewolf's corpse. Earlier - only if a werewolf spawns elsewhere, or (mostly temporarily) from fountains...
Quite high stats compared to early-game enemies, especially high agility (therefore - speed) and instant healing by the time of the transformation into a werewolf are the obvious pros. For cons I would say that the fact that the werewolf doesn't train/evolve/advance very well (each time he gets back to standard werewolf stats, no way to keep any boosts), that NO equipment can be worn (lack of which for example makes even the plants on UT3 a danger). Oh, and can't use pick-axes either.
If I manage to get lycanthropy early, I usually stick to it, as a werewolf carries more and has a better chance of survival than a beginner player character. A good thing is, that the priest in the cathedral can, at just about any time, cure lycanthropy for 100gp. The priestess of Silva also will, and is cheaper, but I'm not sure how much.
Well I assume that a bolt has a given, numeric, amouunt of perwer. (assi in enegri)... unless it's LAERSER SKISKLS POEWN PEWN!