I normally wear a size 32, and the medium's just right. They're a slim (but not tight) fit, and the stretch is a really nice feature. I appreciate how easily I can hop on and off the bike without anything getting snagged. I'll be wearing these for my daily commute, and they look like they'll hold up well.
On my ride today, it was in the upper 80s and sunny, and I remained comfortable. They're fairly wind resistant, so I think these will perform well in cold too.
I got a change to test the water repellency the other day in a moderate rain; the water beaded up as expected. You'll still have to apply a DWR treatment after awhile though.
I had my fairly full key ring in the cargo pocket during a long ride and they hadn't bothered me at all. The other pockets are functional, though I haven't tried the U-lock strap.