0 to 1*C temps today and I decided to try going without a windproof outer layer.
Instead, inspired by people using newspapers, I wore a garbage bag as one of my layers to guard against wind where needed in the front, and with the entire back area beneath the shoulder blade cut away where I needed to vent.
Laughed pretty hard as I put the bag on but it did work to some degree. Still got quite damp on the body but it was a huge improvement from wearing a (non cycling specific) water resistant jacket or coat. Crucially though was that I didn't get cold even under gusting winds as long as I kept moving. I was able to put in a good effort too.
My layers were: 2 dry fit T shirts, arm warmers, long sleeve thin shirt (will be dry fit long sleeve base layer next time), garbage bag, dry fit zip-up advertised for running.
Not sure how this setup will work below freezing; but will give it a try there sometime.