Here's one that my LDS gave me when I first started out:
85+ deg. F = skinsuit (lycra, darlexx, or polartec)
78-85 deg. F = 1/8" (3mm) skinsuit or wetsuit
70-78 deg. F = 3/16" (4-5mm) one-piece wetsuit
55-70 deg. F = 1/4" (6.5-7mm) two-piece wetsuit
<55 Drysuit
'Course, as has been mentioned, different people require different insulation.
And I don't imagine that too many people have five different suits. As I mentioned, this was given to me by a LDS (that sells suits).
Years ago I saw a suit (I think it was by Henderson) that was basically a shorty with a jumpsuit that you could wear over it. That way you could wear the shorty, the jumpsuit, or the two together, depending on the temp. I've been thinking of doing something like this myself. I have a 7mm john and step-tru jacket that your supposed to be able to wear seperately, but it doesn't work that way. For one thing, the legs on the jacket have to be big enough to go over the john, so are too loose if you try to wear it seperately. Seems to me that with shorty under a jumpsuit, all openings could be tight.
And, IMHO, any water cold enough for a wetsuit is cold enough for a hood.
Just my thoughts.