I haven't tried WoL so deep as to give an strategic opinion of him, only very early levels WoL. Even then you can see that WoL is trully powerful given that he's one of the few characters who has a block ---> HP attack with Shield of Light xD. But since I also am not so fond of squall, I can relate to what you're saying :P
It's as you say, Squall becomes a BRV collecting machine, but his HP attacks, except for Rough divide and Revolver drive, aren't well balanced, and can easily be dodged by the opponent. The only real advantage he has, it's that he's the fastest character to neutral cancel your attacks, and catch your opponents off guard. Just ask Flame (he's a user that sometimes posts in here), he's the best squall user I've ever seen, and he was a master of neutral cancel. Got me more than a few times when I tried to block his attack and he cancelled it just before it connected, and hit me with another attack before I could block again xD.
Current PC Build
CPU - i7 8700K 3.7 GHz (4.7 GHz turbo) 6 cores OC'd to 5.2 GHz with Watercooling (Hydro Series H110i) | MB - Gigabyte Z370 HD3P ATX | Gigabyte GTX 1080ti Gaming OC BLACK 11G (1657 MHz Boost Core / 11010 MHz Memory) | RAM - Corsair DIMM 32GB DDR4, 2400 MHz | PSU - Corsair CX650M (80+ Bronze) 650W | Audio - Asus Essence STX II 7.1 | Monitor - Samsung U28E590D 4K UHD, Freesync, 1 ms, 60 Hz, 28"
