you want to be a part of both team edward AND team jacob???!??
as someone who converted his blood angels to space wolves (there was no word on the new codex until a few months AFTER i switched), i'd suggest a few modelling short cuts/substitutions. your death company models make good mark of the wulfen models; where ever you'd put a wulfen in a squad, use a death co model. the obvious ones are psykers=rune priests, chaplains=wolf priests, etc. you'll have to get rid of the jet packs if you have an assault heavy army as blood claws are the only space wolves outside of heroes that can use them and most people don't use them.
as for a paint scheme, i'd say go with red/grey combo and call them blood wolves chapter. finally, don't be suprised if people complain about you using alternating codicies for the same army because they will. personally, i'd suggest picking one and sticking with it. they're both good armies (personally, i think the
SW are more powerful by far but i've heard others disagree).