I got back into cycling 'proper' last year. When I say proper, I mean I cycle most days I can through winter.
Southern UK ranges from 0-10 degrees C as a guide, and I bought myself a few merino base layers as a starter.
For dry days, I bought a jacket from Endura, the Pro SL Windproof Thermal, which has been good although I did find that when arriving home, I was damp to say the least, when wearing just a merino base layer underneather, or similarly damp wearing a thin fleece mid layer and base layer on colder days.
Finding a jacket that is breathable enough to keep you warm, and still able to dissipate perspiration is really quite a challenge, let alone adding some degree of rain proofing. I also bought a Pearl Izumi WXB jacket which is totally waterproof, and breathes remarkably well, when wearing the right combination of layers beneath it. I say this because I found that when using a Pearl Izumi roubaix thermal mid layer and merino base layer dissipate most perspiration away, when compared to wearing a DHB thermal fleece mid layer with a merino baselayer.
I think that each brand within its own layering system, is able to achieve good results, but as soon as you start mixing brands together as a layering system, you lose breathability performance.
On the subject of keeping warm, I think the worst purchase I've made this winter was some entry level Assos bibtights, the unpadded version. Unless I was doing tempo or more intense work, I was verging on getting cold, and they have zero waterproofing. These bibtights are more like the Spring/Autumn bibtights they also advertise, good above 10celcius as long as it isn't raining. I should add, I'm a long standing Assos fan from 20years ago, and whilst their products generally are still good, I don't know why the 'Airblock' technology hasn't filtered down and being used in the entry level gear of today, and I'm dissappointed by what they offer at entry level and it's price point.
If you want good, warm bibtights with maximum waterproofing and good breathability, look no further than Pearl Izumi AmFib bib tights, padded or not are without doubt the best bibtights I've ever used. If it's slightly cold or likely to rain, I always wear these. They're made using softshell panels, so feel a bit less stretchy than most other bibtights, but you get used to them and they do their job very well.