Long time TNF guy, first time Stoic fan, and I have to say this shell is amazing. For the price, there is nothing else that comes close to the quality, style, and features that this shell has.
I wore this in -12F weather at Keystone and Breckenridge with 3 light layers underneath and was very comfortable. It is wind proof (tested on the top of peak 8 breckenridge - 30+ mph winds), and water beads on it, so I'm going to say its waterproof.
I'm an athletic 6'4" 220lbs and I ordered a large and extra large to compare the fits. For me, the large was perfect. The jacket is very tapered and has a nice athletic cut. It wasn't too tight and fit more than comfortably with 3 thin warming layers under it (base layer, turtle neck, light TNF fleece). The XL was a little too roomy / boxy in the mid section for my tastes. The arm length on the large was fine for me also.
If I could add one thing to this jacket, it would be mesh covering for the armpit vents, but since I was wearing this for skiing and lightly layered, it never became an issue since I never opened them.
As for my take on what some other reviews say about the jacket:
-The thumb holes for the wrist gators are very uncomfortable and I would not wear them for longer than an hour or two.
Yes, they can be, but you don't have to wear them.
-The neck is a little small when fully zipped up(without the hood on) and it is snug when wearing a helmet/neck gator.
On the large it was fine for me.
-It is hard to zip up with your right hand, tends to get kinked.
Initially zipping it up maybe, but moving the zipper a few inches once it's fully zipped up is not an issue.
-The powder skirt is a little high on my waist and gets pulled over my snow pants whenever I bend over.
This was not an issue for me, also the powder skirt is adjustable.
All in all, this jacket is sweet and I would recommend it to anyone. If you're looking for an awesome shell and don't feel like dropping $500, get this now!