So animal/hybrid form isn't assumed, but you still gain most of the benefits, such as +13 to your save DCs, bonus epic feat, etc.
There is a spell, Strength of the Beast? That gives you many of the abilities of your base animal
Edit: actually, since the monster's text overrides that part of alternate form. it says...
A lycanthrope can assume the form of a specific animal (as indicated in its entry).
The specific animal is the type of lycanthropy it is... As shown in the specific entries, such as Werewolf lord, etc.
Nowhere in the text of the template, does it say "non-templated" animal.
It does not specify only a "non-advanced and/or non-templated" animal, it only requires an predatory or scavenger-type animal, which a paragon wolf is, along with a wolf or bear.