This is getting to be an SNSA (Sweaters, Not So Anonymous) convention
I'm another, and I have to agree with pretty much everything said so far. To recap what works for me:
NO deoderant - the body needs to sweat so let it.
Mid-weight capliene long johns with boxers over to help keep the family jewels warm, EMS windshear pants over that. Full side zips allow lots of venting options without removing anything. Baby powder in the groin area helps reduce and treat chaffing.
Lightweight Wright Sock merinos used as liners (wonderful flat seams) under Patagonia expedition weight socks. Both wick well and while the outer sock is quite damp at the end of a hike my feet are not overly wet. Gaiters aid in keeping the feet warm. I use Salomon SM Lite boots. No plastics, but no overnights (yet).
Long-sleeve EMS Techwick shirt under Marmot Driclime Windshirt (NOT the heavier jacket) The windshirt has mesh pit vents but I'll unzip for more venting or remove it completely if too warm.
On all but the coldest of days I use only Mountain Hardwear Tempest SL Gloves. These are very lightweight but windproof. These too will come off to allow heat to escape.
I tend to mostly wear a cheap synthetic wool hat as the moisture lost from the head wicks through it and frosts up on the outside and not in my hair. A balaclava will go under that if it gets too windy.
I carry either down vest or jacket (depending on how cold I expect it to be) to throw on for stops and make all stops short. Drink and munch little and often to keep the body hydrated and fuelled.
I'll only carry a hard shell, EMS non-Gore, if I intend to go above treeline for an extended period or expect wet precipitation. I know I'm going to sweat like a pig in it but in cold driving rain I'd rather have warm sweat against my skin.
Obviously I'll carry extra layers for use in an emergency but I was amazed at how little one needs to wear and still be warm in bitterly cold conditions. Adjusting ones pace can also regulate body temp.
The 'start out chilly' advice is also good. I begin that process early by turning down the heat in the car as I near the trailhead. Not quite such a shock when the door opens that way
I'll also wear a heavy down jacket while gearing up and throw it in the car right before getting started. A good stiff pace will soon shake off the chills.
Works for me.
Bob