I think he did the right thing, given what he knew at the time. I can't see him calling wither Buffy or Giles and telling them he was afraid that Angel was turning into Angelus. which would be his basic message. Kidnapping Connor was in part to make sure that Angel didn't harm his son, or lose his soul. I don't really see anybody but Cordy that he could confide in - she could have talked him down and made him wait until she got there. That's why she had to be completely unavailable - so that there was no one he could turn to.

I've always assumed WWP had some family money since he was able to afford to live pretty well without a job. Leather garb and a nice motorcycle aren't cheap. Since he was with Connor, getting into the car, he evidently intended to leave town. Even Angel understood his intent because trying to smother him with a pillow was the least effective way he could have tried to kill Wes. Breaking his neck would have been much quicker and more efficient.