Update: I've been fine riding with base layer, mid and outer layer, hands been fine, but this past Sunday, I went out early morning when temps were about mid 30s. I rode near the river and my toes felt like a block of ice, so much that I had to cut my ride short (only about 15 miles) so now I have to get some booties to keep riding. I am looking at the Gore booties (see below for one of them). I notice they have several pairs ranging from $49-$99. So far I've kept the cost reasonable, but it seems I'm going to have to pay for some booties. One thing's for sure, I can't ride with iced toes. I could barely shift gears on the drive home until my toes thawed. That was not fun.
http://www.goreapparel.com/GORE-BIKE-WEAR%C2%AE-ROAD-THERMO-GORE-TEX%C2%AE-Overshoes/FTRACO,default,pd.html?navid=xsellpdprp
http://www.goreapparel.com/GORE-BIKE-WEAR%C2%AE-ROAD-THERMO-GORE-TEX%C2%AE-Overshoes/FTRACO,default,pd.html?navid=xsellpdprp