I just bought a pair of Pearl Izumi Cyclone gloves from MEC.
http://www.mec.ca/Products/product_d...=1255738285460
They've been ok for about -10 Celsius. Any lower than that and I'm going to recommend a thin base layer. They also seem to be pretty water resistant, but I wouldn't call them waterproof. Seem pretty windproof too! Today it was hovering around 0 degrees and my hands were sweating a bit.
I'm a bike courier so in a 9 hour shift, probably about 6-7 hours of that is outside on the bike, the rest is back and forth from inside. Whether the in and out is what makes the gloves fine at that temp........ hard to say, but I really dig the Cyclones.
That being said, everyone's hands are different and you should try them before committing to them. Good thing MEC has an "Always and Forever" return policy.