This implementation seems just about as good as any other Power Shield Pro jacket (PSP). At 5k mm waterproof rating, the fabric should be waterproof enough for most of my uses (compared to Gore-Tex at 28k and Neo Shell at 10k). Like almost every other PSP jacket out there, the seams aren't taped and the zippers aren't water resistant. It seems that this is a limitation of the fabric -- the only PSP jacket I've seen with taped seams is the Eider Power Pro which has seam tape on the outside of the jacket where it's probably more susceptible to wear. At around 2 CFM air permeability this stuff should strike a really nice balance between breathability and wind protection (compared to more or less 0 with Gore-Tex and eVent, and around 6 CFM or so for the original Power Shield). So, I'm bummed that the moisture protection isn't quite what it could be. Should be great for colder alpine applications where there won't be too much liquid water trying to push through the untaped seams, but it's not going to hold up in serious rain. So, there is a place for this in my outerwear arsenal, but it's not going to entirely replace my hard shells.
The "tricot" lining is extremely thin and flat. No insulation value at all, really, just there to encapsulate the membrane. It functions more like an unlined hardshell. I'm a fan of this feature as I run very hot, even in cold weather, and usually don't require any insulation when active. It also keeps the jacket on the light side, though my size L comes in at 550g on my scale, so I'm not sure I'd believe the manufacturer's weight.
Fit is where this piece really shines. It's a bit more trim fitting than most Patagonia gear, but still pretty comfortable on my shape which is just a bit to the other side of athletic. A perfect cut and nice stretch results in a shell that really moves with you; it's the most comfortable shell that I've worn. At a not quite athletic 6'1" 185lbs, L is a perfect fit. Not bulky, but can fit a R2 fleece or Nano Puff underneath pretty comfortably. Helmet is a bit snug on my ski helmet, but much better if I unzip the collar a couple inches. Hood should fit excellently on lower profile climbing helmets. It is a pullover, for better or worse.
At full retail price this jacket probably wouldn't make total sense for me, but at the current off season close out price it's hard to pass up. As it's June, it'll be a while before I can put this through its paces, but I'll report back. I do wonder if the increased wind/water resistance over most other softshells will be worth the trade off in breathability given the weak spots in the seams and zippers. Sure, there are times that this will be the perfect choice, but I'm not sure how often I will overlook this piece for a more breathable softshell or more water resistant hardshell.