Bought this jacked late last summer on sale. (Great price at Backcountry!) Since getting it I have taken it on daily bike commutes, warm and wet hikes, in to town, and along northwestern Michigan shoreline in December on a dune-hike. Breathable and allows for easy layering due to generous cut. I have never experienced and "greenhouse effect" while wearing it.
In the Michigan, nestled between the Great Lakes, the weather changes in the blink of an eye. During those types of days it is nice to have a protective layer that can adapt to the changing weather. This is a great tool for such a job.
My only complaint is that the velcro on the cuffs has several squares in lieu of a strip. I think that over time this could wear down; however, I have not experienced any issues as of yet.