After a frustrating evening of not decoding a WOLF signal, I was told how to calibrate my PC's sound card. Then I retried decoding M0BMU's signal and met with immediate success:
2009-09-10 21:15:29 >WOLF10 -r 8100.257 -f 1000 -t 1 -w 0.0000
t: 24 f:-0.339 a:-1.5 dp: 85.6 ci: 7 cj:272 M0BMU IO91VR 2W -
It seems this mode is more critical than WSPR but offers the prospect of decoding even weaker signals on the LF bands. The calibration is easily done using the 198kHz Radio 2 signal and takes only a couple of seconds.