I bought this jacket online, but I hesitated because I couldn't figure out how thick -or puffy- it is, having not seen it in a store. Some of the reviews (also its light weight) made it sound like a down sweater but others compared it to the Nuptse, which is definitely a "puffy". So for the benefit of anyone else wondering the same thing: This jacket is a puffy, albeit a smaller, more fitted one.
This jacket is not one of those sweater-like down-filled jackets, but rather belongs in the class of puffy jackets. That is, it is not an inner layer (although you could obviously wear a shell around it). Within the puffy jackets class, it is on the lighter end. Still, it is useful in snowy conditions (I walk around Montreal with it in -10C). It is bit less thick than the Nupste or Sub Zero hoodless jacket.
It's amazingly light, given its warmth. It also looks great. It has a really nice shape and the small is well fitted if you have a thinner frame.
Really glad I bought it, this is a very high quality jacket.