Lone wolf is definitely viable, but it is an option that increases the difficulty of the game and not recommended to start with unless you dislike party-based games.
It is basically taking a party-based game and saying, "I want to play this game with less focus on the party and more on the individual", and while you do get some bonuses to make that individual considerably more powerful for choosing the option, the hit to the party's ability to diversify skills and the hit to the action point economy in combat from having fewer characters is quite significant.