Expectations are rarely high for made-for-video horror movies, and while I can't quite recommend "Big Bad Wolf", it is a little better than the norm. Lance Dreesen is a capable enough director to keep the film interesting throughout, but the less-than-impressive special effects and amateurish acting keep holding it back.
The cast is all appealing enough, but they deliver their lines like they're reading their grocery lists out loud. The special effects involved in the brief transformation scenes are so cheap it really makes you long for the amazing, non-CGI work of artists like Rick Baker and the like. Computers may help to enhance a lot of movies but they were the worst thing to ever happen to the horror film.
The basic premise lifts liberally from a lot of the major werewolf pictures of the last twenty years, most notably "An American Werewolf in London", "Silver Bullet" and "The Howling". There are scenes in this movie that will remind you of all three of those superior films. It even goes as far as to give former Wolfman David Naughton a small part here, which actually earns this film a few points. It's pretty clever.
I also enjoyed Richard Tyson as the titular creature. He never quite made it to the big leagues, but he seems to be enjoying the way back down the ladder of success. There's a good movie in here somewhere just bubbling under the surface, but "Big Bad Wolf" just never quite achieves greatness. It is, however, slightly better than your average B movie.