I have the Shebeest Nanoflex convertible jacket/vest that TE sells. Love it! Yeah, it's a little pricey, but it's been worth every penny. It's not as heavy/windproof as the Cannondale Morphis, which is a good thing in my book- I can wear it on cool summer mornings without sweating buckets. It's a very "female-friendly" cut too.

http://www.teamestrogen.com/products.asp?pID=28374

Oh, and the orange is super cool looking and very visible on the road (per DH).