There are softer balaclavas that have that nose flap/breathing hole combination (and actually that Gore one looks soft too). Yanking it down and up is hard with gloves or mitts on, though.

Everything gets damp from your breath. But it definitely helps cut down on condensation to have that breathing hole area. If it's super cold, you're going to have some icing and when you pull it down and then back up (at a stop light to prevent glasses or goggles from fogging) it feels like climbing into a cold, soggy sleeping bag! And you might as well forget about trying to wipe a running nose - just let 'er run and wash the balaclava when it gets too gross.

I'm liking the snowboard goggles for cold riding (stolen from my son). They vent really well and don't fog up at stops. Also the foam around the face keeps things warm and comfy.