While I'm not a mountain climber or a soldier, I'd like to add my 2 cents to this. Further, I'd like to supplement the previous posters positive remarks regarding wool. I personally wear wool relatively frequently. More specifically I am a skirmisher. This is slightly different from civil war reenacting in that it's a competitive shooting environment. You can read details on it here since I don't feel like explaining it:
http://www.n-ssa.orgThat being said, we have to wear wool. We wear it in summer. We wear it in winter. We wear it year round. At least my team does. Certain teams make due with 'dickies' since they kind of LOOK like blue wool pants.
That being said, be it a stupidly hot and sticky virginia summer or a "so cold the caps cut your fingers and you don't bleed till days later" virginia winter day I have found over the years that I actually enjoy getting into the wool. This is because I know what's coming. I know that I'm going to be comfortable in any situation.
I know you're thinking.. wool.. on bare skin.. COMFORTABLE? But seriously. It only itches for about 2 minutes. Then... no more itchy! Only comfort. In summer your sweat provides a wicking of the cool air around you and cools you off dramatically. In winter, you find yourself insulated against even the harshest elements. I've literally gone out in a standard confederate "b-class" uniform of wool pants, wool shirt, wool coat with only my underwear and some pajamas underneath in 10 deg f weather and been comfortable enough to shoot for hours. Rain, wind, sleet, snow, 110 degree heat.... I've shot in ALL of it and I really think that's only been possible because of the excellent qualities of wool as a fabric.
I am a believer that wool, despite it's weight and itchiness has serious benefits that I'm yet to see out of a commercial fabric and enjoy it's use thoroughly.
/rant
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