I would have to agree with Pete, my experience (though with wool and wool fleece) is that I stayed warm, or got warm while wearing the clothing. Taking it off and wringing water out is a good idea for wool, not as important for fleece. A rain jacket eliminates most evaporation, which will help till you have a fire going.

Thseng

"This "stay warm by the fire all night" madness has got to stop. "

It is not madness. I have spent hundreds of nights out in Baker, Whelen and Forester tents as well as with lean to's made with tarps, boughs or even space blankets (GREAT reflectors) in many environments (most of them with nights below 5, often below 0). I might have had to get up once or twice (now, at my age, that is common even at home) but I always got a good night of sleep. Most of the time with a sleeping bag, but too often without.

The answer to the question still depends on the situation. What do you have with you, what are you wearing, etc.?

Respectfully,

Jerry