In those temps I'll be wearing. . .

Underarmor layer
PI fleece arm warmers
long-sleeved jersey
fleece zippered jacket (not loose - I hate having my jacket flapping around like a sail)
shorts
windproof tights (over shorts)
possibly PI fleece leg warmers under the tights
wool socks
booties over the shoes (with duct tape over the sole vents)
a balaclava over my head or a cap and neck gaitor
long-fingered gloves (with windproof layer - favorites are PI with AmFib)

That's about it - long list, I guess. No wonder it's such a production getting out the door on cold weather rides.

Beth