What does woundflame actually do? Never crafted it, and its on hit
lage...which means what? A contagious disease? Will it affect the wielder? Undead wielder?
For my banelords/wraithlords I usually use the setup Nick_K proposes. Although I found shield of gleaming gold to be more effective with the wraiths cuz they already have vortex. And I always use boots of flying (unless water) and chain of displacement.
So standard build:
vortex, attack rear
flame brand
shield of gleaming gold (charcoal for banelords)
spirit helm (wraith for banelords)
chain of displace
boots of flying
ring of regen
lucky charm
with changes as needed, MR, quickness, etc