Originally Posted by bmike

thin wool layers don't hold that much water. in camp, with a wind break layer on, i've had good luck drying myself out.
and i also usually take a second layer for camp.
throw the wet stuff (not soaking, but damp, rung out, etc.) into the bottom of your bag at night.
will likely be dry by morning.
be warned if you bivy, you'll have more moisture inside than normal.
worked for me and a riding partner down into the 20s after we got wet in the 40s for several hours.