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I'm trying to decide how to equip my Grey hunters...I've just ordered my first two boxes. I'm thinking

Serge with power sword
2 Melta guns
7 CCW + Bolters

this is what I currently own

Logan
Canis
Ulrik
Njal
Harald
Murderfang
Bjorn
Wolf priest
Iron priest
Rune priest
Wolf Lord (kitbash)

1 venerable dread
9 thunder wolf cavalry
10 fenrisian wolves
5 TH:SS termies
5 wolf claw termies

1 Storm wolf
1 storm fang

3 pods

Any help will be appreciated

The usual loadout that I see is 2 Plasma Guns, plus maybe a Combi-Plasma on the Wolf Guard Pack Leader

I would split them into MSU squads of 5 since SWs don't have combat squads I think. It looks like you have more than enough troop choices to accomodate that. Put all that you can in drop pods and watch the opponent weep.

If you want a power weapon I would not give to sergeant, give to regular man, so can be hidden in unit.