In reply to Kemics:
>my current layering system is a t-shirt and a thin cycling water proof jacket on top. Which means, im freezing for the first few miles and sweaty for the last few.
Yeah - ditch the waterproof quick as poss. I was asked to review a cycling specific one for Wiggle recently and it's a well designed jacket in many ways, the the 'waterproofness' is the fundamental issue, same problem you have - even in pretty grotty cold wet weather:
http://lightfromthenorth.blogspot.fi/2012/12/dhb-cycle-clothing-reviews-eq2...
> Anyone got a lightweight jacket that's warm and breathable for cycling they would recommend?
I find that down to freezing, a long sleeve baselayer, a long sleeve cycle jersey or any old microfleece and then a cycling specific windproof vest does me find. Loads of the vests around - the type with some pertex like material on the front and mesh on the back for ultimate breathability. From Decathlon or the big web shops, they don't cost much at all and weigh next to nothing so if the sun warms things up during the day, you just stick it in your bag for the ride home. A superlight windproof jacket is another option. Again I've bought various ones down the years, often for a tenner in Decathlon. I tend not to ride on days when I know its going to be chucking it down and find pertex or similar windproof nylon gives me plenty of protection from some drizzle but breathes fine, meaning none of the disgusting sweatiness of waterproofs.