Hmm, it depends based on the temp for me. Today I did 28 miles in temps in the lower 20s with about a 8 mph wind. So I wore a long sleeve but thin summer weight coolmax shirt. Then a baggy fleece pullover with a thin gortex windbreaker over it. Was comfortable the whole ride and warm even when I stopped for about a minute. When I got done the baselayer was dry, a few spots on the fleece were damp, and the inside of the jacket was soaked. Key here is that the baselayer was dry, very important to keeping warm. The gortex is wrong unless it's raining but right now I don't have a more breathable soft jacket.