This morning was my first bike commute of the season. 36 degrees, 10-12 mph winds. I had picked up some cold weather gear over the winter and been out a couple of times with it (arm/leg warmers, long sleeved jersey, full length jacket) in 40 degree weather with stronger winds, so I figured I should be ok. And for the most part, I was. The only time I really felt cold was when I was going downhill and gained a lot of speed. And even then, it was only my fingers and toes.
My co-workers haven't seen me biking in since the fall, and some of them have never seen me in my spandex, so the look on their faces this morning was just priceless.
I'm still trying to warm up my toes though.