Have you considered trying owens corning 703 instead of wool? Much better absorptive properties. I have about 16 panels in my room with 2" 703, and two in the corners as bass traps with 4" corning 703. It makes all the difference in the world, take them out and I almost feel like I'm listening to bose.
I was cheap so I wrapped mine in burlap in wooden frames we cut ourselves - but I'm sure there's some nice breathable fabric that would look great as well!