I've had this jacket for two years now, so I've got some time on it. I usually grab it on days which are below 45. I like to layer, and this jacket layers well. Usually my Gore sleeveless plus my Craft long sleeve under garments do the trick on the coldest days. We get more wind than cold, so the Gore helps augment the wind stopping silver line. My rides are usually mild or hot or cold and many times windy here in Boulder, and I don't usually find myself riding in rain unless it is Spring or sometimes Fall--times when I feel are not cold enough to select this jacket. So, I can't comment on waterproofing. It does handle snow fine, though, and road spray doesn't seep through. It feels a little stiff and thick when I take it off the hanger, but feels fine and reassuring when clipping in for a cold ride.