Without a doubt, when I ride my bike in cool to cold weather, when I hike or ski (cross country or downhill) or snowshoe, or when I do arctic and sub-arctic field work (I work with the Geological Survey of Canada), trousers made with Schoeller Dryskin material are the best. It has a tough and hard wearing exterior, it's relatively wind and water resistant, it stretches, and it wicks. The only drawback is the price.

Here's a relatively cheap example, still $145