First part was really interesting, but the second, I don't know ... occasionally seemed to drag, other times seemed that characterization failed, dunno, I tend to blame it on the longer span of the arcs. In any case for summer Ookami was my second pick after Bakemonogatari.
In general, I despised the lolification of Horo, but overall art was a tad bit better.
I also appreciated the character development, but sometimes (second arc) felt awkward at times.
As for supporting cast, it was much weaker than the first season, but still way more interesting than your average show or movie (live ones included)
Verict: almost a 9/10.