Actually picked this up on geartrade. Just received it today. Been wearing it around in drizzle and gusting winds and temps in low 40's. So far it blocks wind surprisingly well and sheds water well. It has a nice stretchy feel. Breathes great so far but haven't been doing anything strenuous. I have even left it on indoors at work and haven't been uncomfortable by wearing a jacket indoors.
Update 11/30/11: After wearing this several times I have found the wind resistance less than I thought at first. It breathes amazingly well though. It does feel somewhat stretchy but actually stretches little at all.
Weighed my XXL at 1lb 5.4oz.