I used to get exercise/cold weather asthma also (hubby had to push me home once). I've found that increasing my fitness level and riding regularly in the cold weather has made it go away. Seems that my lungs are happier with the familiarity rather than the once a year shock so I try to keep to my routine even in the cold. We also keep our thermostat between 58-62 which reduces the shock of going in and out of the cold air (same theory applies in the summer with the AC). They know that people whose jobs take them in and out of heated or air-conditioned buildings have more respiratory problems. I'd rather put on a sweater or add a blanket and keep my lungs happy. My allergies (and therefore, sinus infection rate) has dramatically improved with regular outdoor exercise. At least for me, all these things are tied to fitness and gently perserving to get over the hump. An inhaler can help you with this also.

On the other end, I rode yesterday in stormshield socks because I can't find shoe covers small enough (and that will work with Look cleats). They worked pretty well in combination with toe covers. They are a stretchy breathable, fleece-lined lycra (or neoprene or something) sock. Solved the problem of cold ankles and didn't take up a lot of room in my shoe.

By the way, our nice sponsor carries balaclavas in a "junior" size for us people with small heads. Can't wait to try mine out here in "sunny" California!