Ok, I really need to eat a huge slice of humble pie on this topic. Just returned from the OLT. On the second day, it was cold and windy, although only a light drizzle of rain. I was wearing a merino thermal top, a merino polo shirt and the Lowe alpine soft shell, with thermal hat and gloves. This combination worked really well. It kept out most of the wind and breathed enough to stop excessive sweating, while hauling a 20 kg pack.
I still think these jackets are too expensive but technically, they do seem to breathe very well and keep the wind out. Like to see my fleece try the same thing.
Thanks for all the posts and I hope I prompted some worthwhile discussion.