Rapha, nice but a bit pricey?

But isn't that a bit,
"Look my shit dont stink. I'm gonna wear all these layers just to prove it"

what would be the problem wearing this minus base layer?

nothing.. but the whole point of a b/l is to move water away from the skin so when the wind hits your outer/mid layer the sweat doesn't freeze your shit up.

I've got some of the Rapha sleeveless b/l's - they're great now things are warming up