The team has introduced a series of significant body and suspension changes that were supposed to be made for the first time at last weekend’s canceled Imola race.
Despite the obvious complexities of learning the new packs on tricky streets, the team opted to leave them in the car and drive them for a few miles.
Lewis Hamilton finished FP2 in sixth, while his team-mate George Russell finished 12th.
“Monaco is difficult, really difficult to judge,” Wolff told Autosport when asked about the upgrade.
“But at least we haven’t seen any automotive behavior that would be considered truly negative.”
Asked if the car gave the drivers the confidence they needed, he said: “I’ve never heard a driver say it feels good in Monaco!
“I think it’s always on the knife’s edge. You’ve seen that with (Carlos) Sainz. So not too much credit, but definitely a move in the right direction.”
Wolff stressed that he was proud of the team’s efforts to get the new components to the track.
“Huge,” he said. “You see the whole bodywork is different, the front suspension, the floor is different.
“Everyone at Brackley has done this hard work and now this is our new benchmark and we have to work from here.”
Wolff also pointed to Red Bull’s progress in race two after a disappointing FP1 race, and believes Max Verstappen has shown he is a step ahead of the rest.
“In the long run, Max is in a class of his own. I think we’re pretty close on one lap, at least today, but in the long run you’re looking at a car that performs well and doesn’t degrade. They’ve Did a good job.”
Despite finishing just sixth in the headlines, Hamilton insisted he had a good first day with the new package.
“Overall I had a good day and I really enjoyed driving today,” said the seven-time world champion.
“I want to say a big, big thank you to everyone who’s been back at the factory because it’s not an easy job to build, design and develop a car. Everyone put in a lot of time, a lot of hours of hard work to get us here today .
“I’m glad we were able to stay on track for them. And I think we got a lot of data. I mean, it’s not a place for final testing and upgrades, but the car feels good overall.
“It’s a bit of a shame that we weren’t as close at the end of the session as I’d hoped, but there was definitely a sense of progress. And we’ll have to keep pushing and see if we can squeeze any more juice out of the car.”
Asked if there were specific areas of improvement, Hamilton said: “There is, but I won’t say where. There is one area where it’s clear that I’m lacking in performance.
“So we’ll be talking about that in the debrief. We’ll be pulling together and trying to figure out how we can do it within the scope we have. But hopefully this will give us a platform to move on from.”
Russell is also optimistic about the improvements to the car.
“There are definitely some positive signs from the meeting, definitely an improvement over FP1,” he said. “This place is never easy.
“We made a lot of changes, things we would have done in previous iterations of the car.
“These new updates are nothing unique at all. We’ll be working through the night to see what else we can do to try and get more information out of the tires.
“We know the fundamentals of the car are good. Normally we might be overperforming on Sunday and underperforming on Saturday. So we need to try to change those performances this weekend.”