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Spot-on.
In the depths of winter I might resort to tights but unless it's below zero, most probably shorts (maybe lycra undercrackers under running shorts), a base layer + short sleeve over the top (2 layers enough to keep out wind chill), but also a hat and buff, which can both be removed for temperature regulation.
Gloves are a very personal thing and I'm sure I start using them before most people. Bloody Raynaud's!
I have a couple of these: https://www.wiggle.co.uk/dhb-long-sleeve-run-top-1/
Or get similar (and cheaper) from Decathlon.
I run hot and I'm not quite in kl dress code but most of the time I'll be in short sleeve running top, shorts, socks, shoes and a cap (to keep the sweat off face) for most of the year.
If it's cold (and wet) I may move to a long sleeve running top like the above, also may add a buff round the neck (which can be pulled up to cover the face until I've warmed up), and thin gloves (which never last more than 30 minutes before I'm hot enough to have to take them off).
I've never run with any form of a jacket or second layer on. I'd just boil.
You need to dress so you such that you're at the right temperature 5 minutes into the run. This means starting out feeling cold. Easy to state as a rule but hard to get right without trial and error. If you're toasty warm 30 seconds into a run you'll be a sweaty mess stripping off layers 10 minutes later.