A few reasons why I don't use wool very often anymore:
-I have a hard time finding 7" wool 'polishing' pads.
Most of the wool pads that I see for sale have too much cut for my taste.
-Wool pad 'dust' tends covers everything in site. Once you learn how to control product sling, foam offers a much cleaner work environment.
-IMO, foam is easier to clean/spin dry vs. wool. Spurring out wool can be a PITA.
-I can readily spot any debris in a foam pad and ensure that I am working with a clean surface. It's easy to bury grit in a wool pad and swirl the he** out of your paint.
-Foam pad technology had improved significantly. At this point I feel very comfortable with LC 7.5" pads, and would hesitate to change a process that works well for me.