Wolves must now negotiate the harrowing agony of the play-offs if they are to end 18 years of Football League misery.

Goals from Darren Moore and Bob Taylor for bitter Black Country rivals West Brom means the Premiership must seem as far away now for Dave Jones and his beleaguered troops as it did at the start of the season.

There can be no doubt Wolves have thrown away their chance of an automatic return to the top flight in startlingly dramatic fashion over the last seven weeks, allowing the Baggies to pip them to the finishing line.

Wolves face a further three matches if they are to realise a dream which has slowly turned into a nightmare since early March when they held a seemingly comfortable 11-point advantage over West Brom.

There could not have been many people then who would have dared bet against Wolves not reaching the top flight as either First Division champions or runners up, but how fortunes change.

Now, there surely cannot be many who would want to wager on them finding the key to unlock the back door to the Premiership and with it the multi-million pounds worth of riches it entails.

Up until recently, Wolves had spent almost the entire campaign in the top two, and to squander such a position with such a glittering prize in sight will surely play on the mind of every Wolves player.

Dave Jones will have to call upon all his skills as a manager if he is to now lift heads and hearts for the forthcoming battles ahead, and give chairman Sir Jack Hayward the glory he deserves after all the money he has pumped into the club over the years.

Wolves knew before the start of the match their future was out of their hands as they needed a favour from Crystal Palace at The Hawthorns, one which was ultimately not forthcoming.

The fact, though, Wolves could not take care of their own business at Hillsborough smacks of a side low on confidence, and with just a week to rectify matters before the first leg of their play-off clash against Norwich.

It all started so magnificently for Wolves as they grabbed the lead with just 47 seconds elapsed on the clock and spark the massed ranks of the 7,500-strong gold and black army into wild scenes of jubilation.

Wednesday's defence still appeared to be in the dressing room as skipper for the day Alex Rae, with Paul Butler suspended, delivered a raking crossfield ball into the path of Nathan Blake.

Blake then drilled a low ball into the heart of the six-yard area for Colin Cameron to sidefoot home a goal which must have brought a deathly hush at the Hawthorns.

Dean Sturridge was denied his 21st league goal of the season in the 14th minute as a 15-yard right-foot drive was superbly tipped past the post by veteran Kevin Pressman.

Wolves were in the ascendancy at this stage, but the mood of the half changed when news filtered through that Moore had fired Albion into the lead against Palace.

The cheers of the Wednesday fans was in stark contrast to the stony-faced silence of the Wolves supporters who were then taunted, in particular by a chant of 'There's only one Gary Megson' - the Albion boss and former Owls defender.

The heart seemed to have been ripped out of Wolves as Wednesday then took control of the game and deservedly equalised just before half-time, but only after a moment of controversy.

Michael Oakes should have been sent off and Wednesday awarded a penalty when the Wolves keeper brought down Shefki Kuqi just inside the area, only for referee Paul Durkin to remarkably award a corner.

It was an Oakes error, though, which helped Wednesday draw level as he could do no more than tip on a Matthew Hamshaw free-kick from just outside the area into the path of Simon Donnelly to bundle home his fourth goal of the season off his thigh.

The game then turned inside the space of 60 seconds early in the second half as Wolves were denied the lead for a second time by the woodwork, with Pressman beaten by Shaun Newton's angled 15-yard drive.

Wednesday countered almost immediately, and to devastating effect as Kuqi first sent Matthew Hamshaw clear, with the 20-year-old rounding Oakes.

The angle was tight as Hamshaw sliced his shot, but Kuqi was on hand to apply the finish from barely two yards out and for his sixth goal in 17 appearances since his £1million move from Stockport earlier this season.

But Wolves were back on level terms straight away with Joleon Lescott's header from a Mohamed Camara free-kick looping over Pressman, only for joy to again instantly turn to despair with West Brom taking a decisive two-goal lead through Taylor.

Salt could have been rubbed into Wolves' wounds if Kuqi had not woefully scuffed an 84th-minute penalty after he had been brought down by Ludovic Pollet, with Durkin unhesitatingly pointing to the spot on this occasion.

But the miss mattered little as Wolves' fate was soon sealed, although for Wednesday boss Terry Yorath his has yet to be decided with his team only just surviving by the skin of their teeth.

Yorath should know in the next week whether he is to be offered a new contract by Owls chairman Geoff Hulley and the board.

Teams

Sheff Wed Pressman, Haslam, Bromby, Broomes, Burrows, Hamshaw, McLaren (Gallacher 70), Quinn, Sibon (Morrison 85), Donnelly, Kuqi.

Subs Not Used: Siddall, Westwood, McCarthy.

Goals: Donnelly 43, Kuqi 53.

Wolverhampton Oakes, Halle, Lescott, Pollet, Camara (Naylor 85), Newton, Cameron, Rae, Kennedy (Cooper 60), Sturridge, Blake (Miller 76).

Subs Not Used: Murray, Andrews.

Booked: Naylor.

Goals: Cameron 1, Lescott 56.

Att: 29,772

Ref: P Durkin (Dorset).