I'm a fan of layering. I don't go for an insulated jacket, but rather a good enduro jacket that's more of a shell.
I'll start with a layer of Underarmor (use this in the summer too), then a layer of either light or medium weight polypro long underware depending upon conditions, a layer of light or medium weight fleece, then an enduro jacket. This gives me the ability to shed off layers if I start to get too warm.
Under the helmet I'll use a balaclava, essentially a big ol sock with a cutout for your face, that covers your neck and chin. Wish I could remember the name, but it works great.
As for gloves, I've had good luck with the MSR Cold Pro gloves behind a set of handguards and grip heaters under the grips. Thor makes a good windproof glove that's a little lighter weight when the temps aren't too severe.
Who says you can't ride in winter?