Gave up my car 3 years ago, relying solely on bike for transport, here is my take on dressing for weather:
Depending on whether I am looking at night or day, early or late starts, factoring in cloud cover, rain, wind, humidity... here are the guidelines I use for dressing before embarking on my daily rounds:
Rain = toe covers, w.p.jacket, gloves, rain chaps/pants
>70 = short sleeve shirt, shorts (no gloves for me...)
60's = add: long sleeve full zip jersey, bandana (for wiping nose & eyes - they water the 1st 10-15 minutes)
50's = add: Pearl Izumi layered mitts, thin cap or "buff"
40's = add: w.p.jacket, arm warmers
30's = add: w.p.overmitts, ear warmers
20's = add: leg warmers, thin balaklava
teens=add: Performance Tri-Flex long pants
0-10 = add: neoprene ski face cover, neoprene river gloves
<0 = STAY HOME!
Note: being an EMT & Sports Injury P.T., as far as the whole knee issue goes, the cooler you can keep a heavily working joint, the better off you'll be - coolness reduces the resulting edema that any overuse might incur; R.I.C.E.
(muscles are a different topic!)