I have a fleece vest (similar to this one) that I run in during the winter. Winters are cold here, and I usually run even down into the 20's. I wear a wool l/s base layer (a short sleeve wool layer under that if it's really cold), a wool beanie, cheap little knit gloves, warm tights and wool socks during my winter runs.
I'm sure there are nicer vests out there, but a fleece one works just fine for me. As long as my core is warm, the rest of me stays fine. If it's really windy and cold, I usually will wear my wool Buff up around my face to keep it from freezing.
Winter running is my favorite!! I was laid out all last winter with a stress fracture, so I'm REALLY looking forward to running this winter!