Yes, just walked in the door from a short 12 mile night ride. My first time with SPD's and the right combination of layers that kept me just warm enough @ 37 degrees tonight.

Strangely enough I wore Pearl Izumi tights over padded bike shorts with a short sleeve poly base layer and an eastern mountain sports fleece along with a think polartec balaclava. My arms started out cold but quickly warmed up. The only problem I had was the hands - I need a decent pair of gloves.