When I built houses outside when I was younger..
It was minus 30 and I wore coveralls and longjohns and a T shirt.
Same thing hunting high country.. I dress warm waist down,
and very very light on top..Do wear a toque..
But that way the sweat evaporates while I'm doing the heavy stuff that creates heat and still stay comfortable..
During rest, I pull on a Merino wool sweater, and take it off when I walk again.. But I'm all for wool in wet/ snowy/cold weather hunting..
Skin is water proof, and drys easily.. Keep it exposed when I need to,
And protected when I need to.. The worst thing to do is wear wet gear on skin when it's cold.. Protect your gear, and it will protect you..