I am one of those old curmudgeons that used to grab my model 71 winnnie and walk the deer down when I found a track. 2-3 of us hunted together, 1 man on the track, the other 2 circle around a ways and sit in a good spot and wait. When we met up, we traded off on the tracking. We didn't have the amount of deer in the 50's we got today. Season ran later in November than now, there were times when it was 15 degrees below zero, the poplar trees were freezing and would crack loudly just like a rifle shot. Today, even though the season is earlier and warmer for the most part, I sit in a heated box stand, with a coffee pot on the stove, very comfortable and wait for them to come by.
But this was my wardrobe when I was walking them down. The company that I got my equipment from, I guess, I out lived. It was the Alaskan Sleeping bag company. The under wear we wore was a mesh under wear, yes the same pattern as the stockings that "Fallen Lady Angels" wear, but the mesh was heavier and it was made out of 100% wool. The design is to wick your body moisture up and create an air space between your skin and the underwear. The fisherman in Alaska and over in the north sea used this when working on the fishing boats in the fridgid winter weather. over this we wore wool long johns, most of us had union suits. Our pants were made of heavy wool that we got at an army surplus store. We had homemade blanket wool shirts with extra large pockets, so we could carry full size sandwiches in them. Our coats were the red plaid Filson mackinaw, and a matching Filson wool cap with sheepskin ear laps. On our feet we had heavy wool socks, black felt high top shoes and sheep skin lined overshoes. A pair of deer skin gloves if your hands didn't get cold and a pair of leather chopper mittens with wool liners if you got cold hands and wanted to warm them up, believe me they come off very easy when its time to shoot.
Yes we wore a lot of wool, and yes it got some weight to it, and if you get good wool it don't itch either. You can get wool wet, and it still has insulating properties to it. You can fall in water get totally soaked, and yes you will be cold, but not cold enough to get hypothermia and freeze to death. A couple of times it happened and that one of us fell into the water but they stood by the fire in their long johns while there other stuff dried out.
The felt shoes and sheep skin over shoes were before sorrel boots come about. Good wool products can still be had from Woolrich or Bemidji Woolen Mills. Filson is also in business. As far as leather shooting gloves go, I get a deer hide tanned every now and then and go to someone who can make leather gloves, they draw a pattern of your hand, and when its finished you will understand the meaning of "fits like a glove", same with the choppers. Our liners were hand made double knit and you never got cold hands in those.
I don't have much experience with the new fanged underwear, or any of the goretex stuff. But the main idea is create a air space between your skin and your one of the first layers. and maybe it is just me but I am a believer that 100% wool is the only thing to wear.
Secret to staying warm is to stay dry!!!