It occured to me that I didn't mention pants - bike shorts with leg warmers for as long as that works... I have fuzzy capris that are endura something or others that come up on bonktown periodically for like $20-30

It is gets really really cold... Wool wise - I've got the ibex energy tights that I use, but mostly I usually wear softshell pants over my bike shorts, wind & water resistant & stretchy. The rei mistral pants are what I normally use... Those are currently in store selling for about $30 in their sale, if they have them still...

Other rei pants that are on sale in store & on their website that you might want to consider:
the rei acme pants:
http://www.rei.com/product/770975

rei taku's are more of a hardshell:
http://www.rei.com/product/770963