I'm awfully new to the diving thing, but i'm an old hat when it comes to rock/bigwall/alpine climbing and know all to much about how to keep warm when its cold and wet.
if you didn't already know this, cotten and down are your worst enemies when its wet. if its just cold, and your not going to be sweating nothing beats down for its warmth and weight. so, knowing this, a down sleeping bag and a full down suit is okay for your everest summit bid, and otherwise inappropriote.
this combo outer layer (i won't discuss the clothes worn under the jacket) works for me in 99.9% of all situations and can be easily adjusted for anything between 55 deg. and 5deg. (if active).
Mountain Hardware Ozone fleece. polarguard windstopper fleece, you can dunk it in water, wring it out and still be warm wearing it. if put it on over soaked clothes it will keep you warm and you will still dry out. about $120
Mountian Hardware Exposure 2 parka. Two layer Conduit waterproof breathable fabric. debatably superior to goretex. jacket has pit zips for venting, a snow skirt, a very nice stowable hood, nice big pockets and is very comfortable. it breathes well and will allow your soaked undergaments to dry while keeping out ALL of the elements. when its 32deg. and raining sidways i feel like the only guy wearing body armor in a gunfight with this jacket on. about $250.
kind pricey, but these will be the last two outer garments you buy, made in the usa (boulder co i think) by nice poeple who back up there products with great support and excellent warranties. construction is of absolutly 100% quality. the jackets are very adjustable and made to work with each other, after a bit you can figure out various combinations of pull cords, zippers and pockets to leave open or closed for varying weather condtions.
i own tons of MH stuff (three tents, two sleeping bags, two jackets, two fleeces, five sleeping pads, numerous pairs of paints, shirts, undies, socks, bla bla bla) and can't recomend anything over it. they have even made me two custom pieces. my dog fell in love with sleeping on one of my sleeping pads, so i called and they made me a short one for the dog. i also called and suggested that they make a conduit scarf for a woman to wear muslim style (my wife is a paki) as it would provide awsome weather protection simular to a balaklava, thuogh more fashionable. they made one for my wife to match her conduit jacket and sent it to her at ZERO charge only asking her to wear it for a while and write back with suggestions.
okay, anyways, enough of a rant. check out the stuff, if you really want a bomproof garment IMO anything else just won't be as good and will likely cost about the same.