I like to wear the thin Ibex longsleeve crew "Woolie" shirts as a base layer underneath (over a bra), then a thicker wool shirt over that, like the Ibex Shak or the Ibex Zephyr. Then I'll either wear a wool vest or a screaming yellow windbreaker jacket or vest. On the bottom if it's really cold I'll wear my regular chamois tights and then my wool Ibex tights over them....or vice versa.

Sometimes i wear an Ibex woolie longsleeve to sleep with my ibex wool tights....yummy!
I find the new soft merinos are too soft to be itchy, but they have a nice subtle springy texture that feels like i'm getting a skin massage. Cotton doesn't have that effect somehow.

Always check Ibex's "Outlet" section too, for discounted items, and make sure it's showing "all" outlet items, not just the tops. The link to the outlet alway sseems to start with showing just the tops on sale.