Insulation results from "dead [still] air" trapped in relatively small spaces of the non-conductive material used for insulation. Dead air is a poor conducter of heat.
If the amount of "dead air" is the same, the insulative value is the same.
Thickness (AKA "loft") is a roughly accurate measure of insulative value.
Polyester fleece does poorly in stopping wind, but is not designed for that application. Behind a wind-blocking outer garment, 1/4" of polyester fleece has the same insulative value as /14" of wool -- at a lower weight and greater flexibility. (Strangly, most "wind-block" polyester fleece garments have the wind barrier inside the fleece or in the middle of the fleece. I too find the wind-block fleece way too efficient at blocking the passage of air.)
As noted, polyester, like all plastics (e.g. nylon), does poorly when it encounters flames or embers.
Polyester is significantly more abrasion-resistant and stronger (tensile strength) than any wool. (Buy any wool ropes laterly?) Draw your own conclusions about resistance to "wear." Of course, a POS polyester garment with POS zippers and stitching will not compare to a top-of-the-line "boiled wool" garment. (My Filson is sadly thin at the elbows and cuffs.)
Polyester fleece handles moisture better than wool in that the "push" of body heat will dry damp polyester FAR faster than wool dries under the same conditions. The strands of wool absorb moisture and well as trapping moisture. Polyester is plastic. "Damp" polyester has water trapped amongst the fibers but the fibers do not absorb moisture, which is why, all other things being egual, polyester dries faster than wool. That is a big factor in the field.
I have favorite wool pants, coats, and sweaters. Many were purchased as new "surplus." (Great German wool trousers!) (Even the military figures it out eventually. Don't tell SOCOM types that their Winter gear causes questions about their manliness.)
I love wool socks. I just wish the inherent fragility of wool didn't cause those thin spots at the heels so d$%# fast.
Polyester fleece is non-allergenic, stays soft, and machine washes and dries.