Alternative Character Interpretation: Is Lowe trying to stop the hunters from going after the werewolf because he's afraid they'll actually manage to kill him, or because he's genuinely concerned for their safety and knows he'll slaughter them all?
There's also the question of whether or not Lowe is genuinely a man of God and the victim of a horrific curse that he has absolutely no control over (his dream implies that he takes absolutely no pleasure in being a werewolf) or if he's just a horrible human being from the start and a self-righteous murderer who uses religion as an excuse to go out and commit the kind of atrocities that he does. It's also possible that he was a good man who tried to maintain some semblance of faith despite his curse but once he loses his eye due to Marty, he goes off the deep end and fully embraces his murderous tendencies and tries to murder Marty both in human form and wolf form.
Another possibility is that it's just as Marty and the others theorize; that Lowe's humanity waxes and wanes with the moon. Meaning that he's at his most human during a moonless night (which is likely when he had the nightmare) and is at his most monstrous (even as a human) when the moon is full.
Genius Bonus: Anyone familiar with werewolf legendry will realize that the Revealing Injury that exposes Lowe is not the first time such a beast has been exposed in this manner. There is also the ancient legend of Michel Verdun.
One of the hunters who goes to hunt for the werewolf looks and sounds like an elderly Eric Cartman.
Jerk Ass Woobie: If you subscribe to the theory that the man behind the werewolf is more the victim of a curse than a murderous self-righteous hypocrite, then Reverend Lowe will come across as this. If we're to go by what the book said about his backstory, he had no say in becoming a werewolf and it was even shown in the movie how he hated the curse and considered it a nightmare. Even when he made the conscious attempt to try to murder Marty in his human form, it can even be argued then that after losing his eye, he was pretty much driven off the deep end anyways. So depending on how sympathetic you find him, Lowe finally getting shot and killed at the end can pretty much be considered a mercy kill at that point.
The dream sequence where churchgoers transform into werewolves is actually silly.
The main werewolf itself can be partly considered this. It looks good in bits and pieces, but it's not the most convincing werewolf in a werewolf movie at all for the most part. Still doesn't make the movie any less creepy than it already is.
The effects themselves are actually pretty good. However, the werewolf design incorporates just the right bits and pieces of human and wolf anatomy to look far more like an angry furry than a bloodthirsty man-beast.
Brandon Tenold describes the werewolf as looking more like a were-wombat.
Special Effects Failure: When the group of hunters in the woods is attacked by the werewolf, one of the attacked hunters is very obviously replaced with a goofy looking rubber dummy.
Squick: The scenes of Reverend Lowe transforming into (and back from) the werewolf, complete with sound effects. Yeeuck.
Values Dissonance: In the film, the father of Marty's love interest really hates Marty and makes a remark about how he's a "damn cripple" who'd end up on welfare. While this attitude is clearly not supposed to be sympathetic within the film itself (notably, he shares a name with an abusive jackass from the original novel that the narrator condemns as "first-class grade-A shit"), where Marty is a bright kid whose wheelchair doesn't limit him that much, this kind of casual and vicious ableism makes the character look even worse than originally intended.