IMO temps just below freezing are great to ride in, mostly dry but not too cold. Great stuff.
I sweat a lot when I commute so I need thin clothing that dries fast but I try to cover "everything". Just around freezing I'd be wearing a doubled up Buff covering my ears underneath my helmet, another Buff around my neck to pull up or down, softshell jacket (Gore Phantom), sports bra, shortsleeved wicking layer, lined gloves (SixSixOne Watch gloves), shorts, PI Amfib tights, thin wool socks and winter shoes.
A bit colder I'd switch the Buff for a windproof skull cap, switch the short sleeved layer for a long-sleeved one, switch to PI lobster gloves and add a thin wicking layer on my legs as well, and add booties.
Getting dressed in winter is a hassle, but the riding can be great!
Winter riding is much less about badassery and much more about bundle-uppery. - malkin
1995 Kona Cinder Cone commuterFrankenbike/Selle Italia SLR Lady Gel Flow
2008 white Nakamura Summit Custom mtb/Terry Falcon X
2000 Schwinn Fastback Comp road bike/Specialized Jett