Well, I don't feel like doing it, but if you factor in the racial bonuses, werebeast doesn't line up with, or even near par with any others.
Werebeast can be: druid, ranger, berserker
Druid is a qclass, I won't even delve into it much besides saying it is arguable that they make the best druids.
The ranger class, well, they make absolutely terrible rangers. The draw to werebeast is solely the RP. There is no reason what so ever a ranger is going to go werebeast for the offensive bonus........you're a friggin ranger. Offense isn't your weakness, and you're going to want to cover the weakness.
The berserker class, with the recent changes, could be arguable. I can see some potential here, but not in comparission to the size disadvantage you can take. I also want to point out that I don't know a single person here who would claim werebeasts were on par with other zerk races.
So, if the race is balanced, fine. However, the race combinations that are possible with the werebeast don't stand on par with the other combo's that are feasible. Making werebeast solely an RP race. Whether or not that is a bad thing, that's not my call.
The suggestion of nixing the autotransform at 50 is a good idea.
My credentials are two werebeast rangers at 50, and one werebeast zerk at 50.