Regardless of the wool, it will not stop the wind without a wind-stopping liner. But, as Roger points out, liners can decrease your layering options. Kind of depends on the liners though. I have some Autumnwood wool that has a nylon liner that helps stop the wind. My KOM jacket has a mesh nylon type liner that slows it down some. Pile/fleece linings probably stop the wind better, but they are a lot more bulky. My KOM bibs are unlined. I use different weight long johns, including merino wool, depending on the temps. I use this stuff in below zero weather, and can usually sit all day if need be. If you stand hunt almost exclusively, lined might work better for you. If you spend a fair amount of time still hunting, unlined with the layering options might work better.
Layered, unlined wool is fine in wind up to 10 mph or so, but you begin to feel the air coming through at 15, 20 mph winds and higher. Where I hunt in northern Wisconsin, at 20 mph, the aspen and birch tend to wave around a lot, and a few start falling. More than 20 mph winds, and I usually get out of the tree and hunt on the ground. Deer tend to hunker down and move less during strong winds as well. At least that's been my experience.
Just need to think about the conditions you'll most likely face and your style of hunting to pick out what is best for you. Good luck.