One of the great things about the current Space Wolves Codex is that any model in Terminator Armour (with access to Terminator Weapons) can take a Storm Shield for free - provided they lose whatever's held in the left hand, which is usually a Power Weapon.
Thankfully you can still purchase a Wolf Claw, Thunder Hammer, Power Axe or Frost Axe for the right hand. Or stick with a ranged weapon. More on that in a sec..
Storm Shields - take them, because they're free!
Let's make one thing clear. 5++ invulnerable save or 3++ invulnerable save? It's a no brainer. Especially when in the previous edition, we had to pay through the nose for Storm Shields. Now they cost us nothing. So make sure you always take one for a Terminator model. It makes them amazing value for points.
Storm Shields and Ranged Weapons
Now this is where things become interesting. Because it's common for people to think that Terminators should have a Power Weapon of some kind.
Instead, think about a squad as a whole.
Wolf Guard Terminators Pack:
Wolf Guard Terminator with Heavy Flamer and Storm Shield
Wolf Guard Terminator with Combi-Melta and Storm Shield
Wolf Guard Terminator with Thunder Hammer and Storm Shield
Wolf Guard Terminator with Wolf Claw and Storm Shield
Wolf Guard Terminator Pack Leader with Wolf Claw and Storm Shield
3 of the Terminators have the typical kind of load out for close combat that you would expect to see.
However, the Heavy Flamer Terminator has swapped his Power Weapon for a FREE Storm Shield.
Why?
Because he's going to be at the front, incinerating swathes of the enemy with his Heavy Flamer and most likely becoming one of the first casualties.
The same goes for the Terminator with Combi-Melta and Storm Shield. He's going to get one shot off, then take a load of hits from shooting before finally losing a Wound.
Imagine if neither of these models had Storm Shields, but kept their Power Weapons instead.
Neither of them would ever see close combat, due to being killed by all the shooting attacks. But it's likely that without their 3++ invulnerable save from the Storm Shields that another member of the pack would likely take a Wound as well.
CONCLUSION
Please note that this Wolf Guard Terminator pack is for example purposes only. I personally, would not take 1 Wolf Guard Terminator with Combi-Melta and Storm Shield. I'd take 2 in a pack and lose the Heavy Flamer if I was trying to 'pop' a tank on the term my pack arrives.
Fielding an expensive model with a one-shot-wonder-gun that may not even hit isn't a good investment for your points.
But once you start to have a few combi-weapons, it's not so bad.
I've seen one guy field a pack of 5 Wolf Guard Terminators all armed with combi-weapons and Storm Shields. While it hits hard when it Deepstrikes and it's very survivable, often causing a nuisance by tying up an enemy unit for the rest of the game, I do feel that there should be at least one Thunder Hammer in there to smash things.
So there you have it.
FREE Storm Shields - why aren't you taking them when they give you a 3++ invulnerable save for free?