I used the Lavacore as an undergarmet on one dive in Canada in August. Under it, I wore some polartec base layers from REI, as suggested by someone else in another thread I can't find now.
I found it acceptably warm, though not quite as warm as the big, bulky, old undergarmet I was aiming to replace. Unfortunately the wrist seal on my dry suit tore near the end of the dive, so that was it -- I rented a wet suit after that. Next time I cold water dive and get my dry suit repaired, I will certainly try the same configuration again.
I also just did 6 dives in Hawaii using the Lavacore only as a wet suit. That was fine, also. Again a little colder than a 3 mm full body wet suit, but for the space and weight it saves in my gear bag, it was just fine and will definitely do it again. It's still better than the shorty I had used in Hawaii previously.
By the way, I agree it is in fact a bit snaggy but so far no major damage, just cosmetic.