More-or-less what I do.

I go for a long-sleeve underlayer, maybe a vest or T-shirt over that, with a windproof jacket over the top. The windproof makes a huge difference without needing the bulk of an army coat and once you've warmed up you can undo the zip a bit to cool off.

Gloves for the hands, long socks (I guess you could use cycling leg-warmers), I have wind/waterproof shoe covers but don't bother with them unless it's wet, and instead of a wool cap under the helmet, I use a shower cap as a helmet cover if it is raining or really cold.

I would recommend against a lined jacket, they are bulky and quickly get too hot. I prefer keeping the insulation and shell layers separate, that way you can have just 1 compact wind/rain jacket and tailor the underlayers to what the weather is like on that day.