Accidentally ended up testing my countycomm sleeping bag (the cheap $40 one) in a cold weather situtation. To make a long story short - I was indoors, but in an unheated place. It was about 9 degrees outside, maybe 20 degrees inside and that's as warm as it was getting. I ended up in an overnight situtation despite all efforts to avoid it.
Fully clothed, in the bag and on a therm-a-rest pad, I slept warm and fine (except my face) - BUT - and this is a BIG BUT - there was no wind or moisture to contend with. I'd say that if this bag got even a little wet, it would be worse than useless.

I stay with my original asessment that for $40 this is a decent little bag. I can't swing the cost of a Wiggy's bag just yet, one day, maybe, I will.