I walk in the cold, and I've got one good general rule for that. Wear it, don't carry it. Everything is a layer. Don't carry your
Altus, wear it for wind. Don't carry your spare T-shirt, use it as a middle layer. It won't get dirty between other layers in cold weather.
And, of course, no bear skins. LIght layers only, on your back, not in your pack.
Oh, and consider mitts over gloves, preferably kept dry by pulling the sleeves of the
Altus over them. I've been caught out with wet and frozen hands on the meseta. Couldn't get the gloves over my wet fingers! And get that
Altus on before the rain, because in winter, on the Aubrac, in wind and sleet, your hands may be too cold for the operation once they're wet.
Beware of ponchos that aren't wind stable. (That's most ponchos!) Another lesson learnt on the Aubrac.
Makes it all sound scary, but if you stay dry and don't take silly risks, it's all good. Some pilgrimage-as-achievement types told me I was soft for taking the road down from Nasbinals instead of going through heavy snow and possible white-out on the GR65. Soft! I blushed. As a shameless dawdler, I was flattered.
Random thoughts from a winter/spring type. Hope they help.
rob