After all the suggestions I got last year (see reply above), here's what I ended up using the most for my commutes in cold weather. I used them in various combinations depending on how cold it was. My limit for riding in the winter is 20 degrees F.

Sugoi Midzero Speedster hoodie

Sugoi Firewall Tights (no chamois)

Showers Pass Elite rain jacket (wore it all the time because it provides good visibility and has a loop on the back for a blinkie light)

LLBean Fitness Fleece

Outdoor Research balaclava

Smartwool socks--usually wore two pair

toe warmers

PI Calientoes toe covers

LLBean snow sneakers (big enough to fit two pairs of socks and toe warmers in; won't work with clipless pedals--I use mini toe clips on my commuting bike)

Descente Wombat gloves (these won't work so well with STI shifters because they morph into mittens--good when the morning is really cold but the afternoon ride is warmer)

Craft windstopper beanie (can't find a link but I bought it at TE)

I spent a lot of money at TE and REI last winter! But the good thing about riding in the winter is the base layer undershirt and bike shorts are the only things that have to be washed each time; the tights and outer layer tops are good for several rides.

Now let's enjoy the summer and fall while we still can!