I bought this years' Free Thinker II and it is perfect in just about every way. I got the Grey w/ Black that isn't listed on TNF's website but REI and BC.com have this color. It's more subtle because the grey zippers don't stand out as much as the other colors. It does look much better in person than in the non-stock photos above.
First off, the jacket feels solid with substance but certainly isn't bulky or heavy to any extent. It isn't too tight, but isn't bulky but does have more than enough room for a fleece hoody, thermals, and then some.
The GoreTex Pro shell is unbelievably tough and literally waterproof. My fishing waders are made of Goretex Pro as well and those breathe like no other, but are impermeable at the same time. They also withstand hours of bushwacking to the next fishing hole never with a scratch.
The pocket design is nearly perfect. The zippers are a pleasure after having coats without the exposed zippers with flaps over them. They remain tight and sealed but are simple to open and perfectly placed.
The phone pocket won't fit your iphone, but it holds a blackberry pearl like a glove.
The ipod/media pocket is perfectly designed, holds an ipod touch or iphone and has a slit to run your wires through and it's tight where. If you have skullcandy buds, the in-line volume knob stops the wire from retracting too far.
The side pockets are very roomy (they hold a gatorade no problem), and the goggle holder inside is snug but I don't use that feature.
The powderskirt is well designed and has dual buttons so you can rock one, or both depending on how many times you go waist deep in the pow that day. My only complaint is that there aren't dual chest pockets but there are plenty of other, easy to access pockets so it's not that big of a deal.
The hood doesn't come off which I prefer, and it comfortably accommodates my Smith Variant helmet. It has a nice solid brim and tightens 2 ways for a glove-like fit.
The pit zips are curved to match your torso, and are long to let in a lot of air on a long hike to your favorite BC peak.
I don't buy something with Recco being the main or even small consideration, but after 2 inbounds deaths here in 2 years (Canyons then the Bird) it certainly doesn't hurt because who wears a transceiver inbounds? I still won't.
Buy this coat if you have the $$$. There is not a better coat on the market.
I checked out all of the top end coats in person, Arcterex, Patagonia, Marmot and the design and fit of this coat blows the others away. All of the other coats either didn't feel like they had any substance, the chest pockets are way too deep so your stuff ends up in your gut