I shot pellets with the #11 caps in my Wolverine for years and never had a misfire. However, most folks will tell you that the pellets are designed to be shot with the 209 primers. If I were definately planning on shooting the pellets, then I would probably spend the $50 or so bucks on the conversion.
I can offer a very good shooting load in my Wolverine. It is 80 grains of 777 fffg with a 220 grain dead center sabot on top, ignited by the #11 primer. I have shot a ragged hole 3 shot group with this off my bench at 100 yards more than once. I just pre measure the 80 grain charges into empty film canisters and those work about as well for reloading as the pellets (at about 1/2 the cost per load). Not bad for a gun that can be found for under $150.
Good shooting,
Smoky