Very warm, much more so than I expected - I'll get to wear it about a total of 4 times a year in Southern California, but I love it anyway. The only complaints I have are the stiffness of the outer layer, im sure it adds weight and warmth but it makes it feel less than ideal, as well as the button sometimes makes me feel like it's choking me unless I have the hood part up, probably because of the weight thing too. Again, overall I love it. I've worn it each time I've gone for a midnight drive-thru since getting it!
It's beautiful! (And my dog, Mia's preferred sitting location when I leave it on the bed)