If I had to limit myself to only one cycling jacket it would have to be the Gore Bike Wear Phantom Bike Jacket! I live in the Chicago area and it’s not called the “Windy City” for nothing. The Gore Phantom Jacket is made with Gore’s famous WindStopper fabric and it really makes riding on windy days a lot easier.
This jacket not only stops the wind from penetrating the fabric, but since it is designed to be tight-fitting it reduces drag as well. While they do not claim the jacket is waterproof, I have found it to be highly water-resistant and very breathable. The sleeves easily zip off and leave you with a great vest with quarter-sleeves. It has reflective accents to make your presence known in low-light situations and has the best pockets of any of the jackets I own.
I rode with this jacket during the winter in temperatures down to around 25 degrees (I was also wearing a Performance Polar Jersey and an Under Armour Tactical Longsleeve Crew). I could have ridden with this jacket in colder weather, but I really didn’t want to ruin it with all the grit, grime and slush that splashes up on me in the winter months.
I purchased my jacket from REI for around $170, which is about the same price you’ll find on Amazon.com.