2 Resources for two equally relevant effects for Wolverine is a fair trade. I'd say the +1 ATK alone is worth it, even though it only works with your basic attacks. The thing is, Wolverine is so focused on dishing out as much damage as he can as fast as possible, every bit of juice you can add brings you closer to knocking a problem off the board.

That said, there are a few drawbacks. The first is that (and I will wait for a rules clarification here) you don't get +4 health but rather health capacity. This means it's better to play it and heal while in alter ego as it won't be worthwhile if you're nearly dead to begin with. It does work great with Mean Swing since you can't always afford to take damage on Wolverine's Claws, and rather than let them go to waste for a round, you can exhaust them for a bigger ping.

All that said, it's still true that if you can deal the damage in your hand right away, the incentive to play something for the long-game is a choice you have to discern for yourself. It may also fair better in a protection deck where you anticipate taking less damage overall and therefore are more able to heal into that extra 4 HP buffer from time to time. The key is that having the buffer only matters insofar as it enables you to spend that health on combat cards, avoid defending during the villain phase, etc.. The earlier you get it down, the better. But I'd say my priority to play this is first, if it's convenient, and secondly, if I know I can't rush down the boss.