While it might work for Woodsy - I try to avoid cotton as a layer anywhere with direct body contact.
I used to do a lot of winter time, overnight wilderness backpacking using XC skis or snowshoes where we would go out for mulitple consequtive days and nights, staying in a tent in rather cold temps (30 below at times!). The saying was "Cotton is Rotten" when it came to this stuff -or any winter time sport where you can work up a sweat, then maybe cool off a bit, sweat again etc. as exertion levels change. Reason is, the cotton will tend to hold onto your persperation, and as it evaporates, will tend to cool you off quickly, causing a chill. The "wicking" synthetics like Thermax, Polypropelyne (sp?), Capilene, etc. work so well because they are "hydro phobic" and wick the moisture away from the body and into your more outer layers of clothing. When the moisture is then into those outer layers and start to evaporate, they dont cool you off. Then a breathable (this is where stuff like goretex comes in) or ventilated windshell allows that moisture to pass through to the air around you. This sort of stuff was a huge help in those trips, as well as on routine XC ski or snowshoe day trips. It also helps a great deal with winter bike riding. Huge difference in comfort level. I have had times where my outer layer would be nearly totally saturated with sweat, yet my skin was totally dry. The stuff works!
Of course, not over dressing always helps avoid sweating to much - but I find I cant ever totally NOT sweat, almost regardless of what I wear. And if i dress so lightly I am not gonna sweat, I freeze when the pace slows down or if i stop for a breather.
Curtis - remember those goofy things your mom used to make you wear in the winter when you were a kid...embarrassed the heck out of you because it looked soooo stupid? You pull it over your head, then on over your face. It had holes for eyes, nose and mouth? (classic ski mask a robber would use when holding up a store!) A balacalava simply has one big opening for your face - typically thinner material on top of the head - fit well under a helmet. You can pull the bottom of the opening up over your mouth and maybe nose with some. Added plus is the neck coverage they offer. It has to be major cold for me to wear one of these and not over heat.