Cold outside? No problem
This is really a cross between a beefed-up riding jersey and a full-blown jacket -- and unless you're riding through the arctic tundra, that's a beautifully versatile thing. It keeps me warm and dry down to ~35 degrees and you don't really overheat until the mercury reaches the high 60s...which is about the time you start riding in a short sleeve jersey anyway.
One point to be aware of: the sleeves are long.