Last winter up in the White Mountains, I had on UnderArmour Cold Gear, a fleece pullover and a Gen I ECWCS parka. Wind chill was around -20*F. I was sweating when we got to the top. The point I'm trying to make is I would rather spend $100 or less on Gen I and combine it correctly with other layers than whatever Gen II or III costs.
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It's not that life is so short, it's that you're dead for so long.