A real Werewolf(also called Lycan) would be a person who appears as a wolf in the Astral Plane. There are several of them here, I've made friends with several of them myself. I'm not what I would call an expert on them, but basically when they go Astral they can take the form of a wolf and may have some wolf-like features in the real world as well although they can NOT actually shape-shift into a wolf in the real world.
I don't believe their 'spirit' (or 'soul' as it may be properly called) is a wolf because the soul is what inhabits the body. For example, along with having been a wolf and a dragon in my past lives I was Japanese, Irish, Tlingit, and many other things in many other lives, however I am only Irish and Tlingit in this life. I do have more traits to my heritage, but Irish and Tlingit are the only ones I'm mentioning; point is just because you were something in a past life doesn't mean you'll be the same physically or necessarily spiritually in this life.
Hope this helps a bit, if not I'll try to explain more clearly or find someone else who can and is willing to.