I got up the other morning at 5:00 for a two hour ride in 40*. I don't have warm clothing, I don't have electrics, I can't buy "off the rack".... so I make do with what I've got, that is to say I RIDE COLD.
40* was gonna drop to 37*- at sun break as I pass over the hill, later in the ride it would warm to 55*, then as much as 67*, standing in the sun would feel like 72*.
I wore some BMW thermal stuff under my mesh pants filled with all sorts of hip, knee, and shin armor. I didn't bother with putting some REI wool socks on because that would be too much as the day warmed. Up top I wore a poly-blend loose fitting long sleeve, recycled plastic bottle fleece, neck covering, and an old school black leather biker jacket. After an hour in the leather, it was about as functional as thick cardboard, but I LOVE that leather jacket. When my fleece was a bit too warm, I changed it out with a thick cotton t-shirt manderin collar. Later in the day I could hang in my poly-blend shirt in the sun, and put a short sleeve t-shirt over it for the ride home.
I have some old leather gloves with gauntlets, thinned with age and linings only as functional as the leather it lines. I have small hands, so GorTech gloves make it difficult to wrap my hands around the grips, I hate 'em. They're wrapped in with my Frog Togs rain gear in the event I'm caught in the rain.
So I started off he day with the leather gloves, trusting my hand guards to provide protection from the cold wind when I switeched to perf' leather summer gloves. I really need to buy some more silk glove liners before I take off in the 30* weather we're headed for (we ride year 'round out here in Cali').
Someday when I grow up, I want some heated stuff. I understand they've got really GOOD stuff nowadays, complete with heated collars, heated sleeves, and maybe a heated leopard-print thong.
So when I ride in the cold stuff, it's all about wool socks, BMW thermals, layering with poly-blends & fleece, silk glove liners, and a really really cold chin. The ONLY time I've been warm in recent history, was when I put my two layers of liner & water-proof liner in my Cortech Air mesh a couple hours after I started out in 45* morning.
I don't know the comfort of "warm" on a bike in the winter, I simply gut it out until the day warms to thaw me from the hours prior.....