I can't think of enough positive things to say about this jacket. Hiking around for hours on end on steep pitches in dense timber and brush during cold and rainy winters here in Oregon were definitely made more enjoyable due to the complete waterproofness, breathability and durability of Gore-Tex XCR and Arc'teryx craftsmenship. I own a Gamma MX hoodie, Alpha Comp hoodie, Fission LT vest, a Theta AR and now an Alpha SV, yes I am an Arc'teryx addict. The Alpha SV is yet another perfect example of Arc'Teryx quality and design. I'm sorry that others have had issues with the new zipper but I tested mine and it's 100% waterproof, not so much as the slightest bit of moisture got through after pouring a glass of water onto the jacket and letting it pool over the zipper and sit. As others have mentioned I like the shorter length of the Alpha SV vs the Theta AR, the new zipper is awesome as well. It definitely slides much smoother than the main zip on the Theta AR. I like the hood on the Alpha SV more than the drop-hood on the Theta AR. The one aspect that the Theta wins out is in storage and that the pockets can be used as hand pockets in less extreme situations but those are both minor. I'll still be using my Theta for some activities but overall I think the Alpha in the superior jacket. As with all Arc'Teryx gear you get what you pay for, which is top quality. My Theta AR still looks brand new after 2 years of continuous wear so i'm sure the Alpha will too.
These guys have awesome customer service and a top notch staff as well, very knowledgeable and helpful.

The North Face DIAD does what it's designed to do and does it well. It's ultra lightweight and completely waterproof. The only possible place that moisture could sneak through would be the zippers but that was never a problem for me. The lush green looks great and while the material is thin it seems to be very durable. It definitely deserves the editor's choice award from Backpacker.

The Phantom jacket is an awesome jacket, the 800-fill down keeps you toasty warm and it's incredibly light. I ordered one in "shark" and it looked great and unique unlike The North Face Nuptse that I see at least a dozen people a day wearing. The thing that irked me is that after having it a few days and not even wearing it outside yet the jacket somehow got a tear in it so I returned it. It's too bad they didn't choose a more durable material for the shell. I understand it's designed to be ultra light but if the fabric rips then it's useless.

I love this jacket. It stretches, breathes and it's much warmer than a full on hard shell, granted it's not waterproof but I've found that it's extremely water resistant. The green looks great and I get complemented on it all the time. In typical Arc'teryx fashion is overall a great jacket and definitely lives up to quality I expect from Arc'teryx. It is a bit spendy but it's definitely worth the money.