I ended up with a Canari convertible. I don't know what "connected sleeves" are because these zip off independently. I can vent my pits by opening the zippers part way, but that's not as effective as a real pit vent. The jacket also has a full back vent. Only problem is my lower back (below the vent) still gets damp because the jacket has a large rear pocket which adds a couple layers of fabric, there.

I didn't start out looking for a convertible jacket/vest but now that I have it I love the versatility.