I still have my Navy pea coat, heavy wool, from the 1970s (the only uniform item I kept, tho' I wish I'd kept my deck shoes too). That's when I learned the advantages to wool in varying temps ranging from chilly mornings to coolish-almost-warm afternoons, including when soaking wet. So I got the merino wool shorts and jersey, which were comfortable year 'round, even when caught in chilly rain.

I weighed around 145 lbs then, 165 lbs now, and the 40R fit is a bit too snug now for bicycling. But it's a good looking coat.

I prefer my Columbia Gore-Tex/Thinsulate parka for cold weather two-wheeled jaunts, including motorcycles. It's lighter, about as comfortable as the pea coat, fits better in my trunk bag, and has plenty of adjustments for air flow and cooling. I got a Shimano Storm Jacket recently which is very good, but we haven't had any rain yet to test it out.

Personally I'm not comfortable with the "start cool, let exercise warm you up" method, although it works for some folks. I experience an odd quirky circulatory problem in winter that's similar to a mild case of Raynaud's Phenomenon. Even if the inside temperature is 70F, my body seems to know the outside temp is cold and my fingers and toes tend to lose circulation and feel numb. If I go outside without being warmed up it gets worse, and I've experienced numb or painful tingling in my hands and feet even when the outside temp is between 30-40F. So when I head out I prefer to start warm, then unzip, unbutton, etc., to cool down as my circulation improves. If I start out warm, I stay warm and feel comfortable down into the 20s.

But there's no single method that's right for everyone, so the trick is to find what works for you and do that. Same with controlling perspiration.