Just moved to Philly and began using my bike as my main transportation. I have a question for those of you who are more experienced in riding in the chillier climates.

What jacket/coat combo do you guys wear that keeps you warm but doesn't make you sweat all over the place. I have a limitied budget (<$50) so I can't afford anything with trademarked fabric names but maybe there is an army surplus solution that somebody here has discovered.

Ideally it would good in the rain too, but maybe that's asking too much.