This is a great, high-quality baselayer - since I bought it a month or two ago, I've worn it on the slopes everytime, and I've never gotten cold. The thumb holes are especially helpful for pulling on sweaters and ski jackets over it.
The only downside is that, like most outdoor apparel for women, it seems like it's made for petite-to-average-sized females. I'm 5' 11" and weight 135lbs, and the length of this baselayer is too short for me, while the width is a little too baggy. I end up having to wear a long tank top underneath (which kind of defeats the purpose of a baselayer...). If I had ordered a size up, it would've been way too baggy.
Overall, though, this is a toasty, non-itchy, and investment-worthy baselayer that's also good for wearing around town or for apres-ski.