I second these suggestions. For lube, be sure to get a nice waterproof "wet" Teflon one -- summertime "dry" lube will just wash right off in nasty weather. If you can't wash your bike off, at least wipe it down thoroughly after EVERY commute, especially the chain, cassette, and chainrings. Rust develops on chains incredibly quickly, and it's impossible to really get off well. With the salt factor, your entire bike will rust if you don't take extra-good care of it.
That said, +1 on the walking option. Ride when it's cold but clear; walk when it's nasty. That would save you lots of $ in the long run on bike repairs. (This winter was so hard on my bike, it would cost $600 to repair it -- that's $100 more than I paid for it 10 years ago!) Around here in MA, anyway, we tend to have enough cold, clear days that winter riding can really be beautiful.
As for warmth, layer up, especially on feet and hands. Experiment and you'll find what works for you.




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