Comfy but not quite what I expected.
First for the good stuff. These fit much better than the Icebreaker Nature 200 bottoms. The elastic waist tapers in and the merino has a nice stretch in case you're of a curvier persuasion. The merino is very soft and not scratchy at all. I was worried because I often will get hives from wool fiber, but I have worn these without any incident.
At first I was really happy about how thin these are, but on further consideration, I'm wondering if that's why they don't seem quite warm enough. I actually got this in combination with an Icebreaker jacket, and neither of them have successfully warmed me up indoors. I've had wool sweater tights in the past (nothing fancy - just some that I found in a department store) and I have to say that I found the sweater tights much warmer...and cheaper! Perhaps these will do a better job under more active conditions but I'm not holding my breath.
Also - the fit seems to run a bit large. I'm 5'2" and 115 lbs and NEVER wear a XS in bottoms. I'd ordered a Small but it's too big - from the knee down it's loose and drape-y, so I'd suggest going down a size if you're smaller framed. These are also about a good 4" too long for me, so good news for the taller ladies out there.