Indeed! Usually «military spec» only means it meets the lowest criteria and made by the lowest bidder. But when it comes to wool, norwegian army surplus is not half bad. The difficult thing about buying merino, is that it seems to me that you pay for mostly for comfort, wich means it is of a very fine quality and has been treated in way that makes it less good at staying warm. I have limited experience with the brands avaliable in the US, but have had a few garments from Smartwool, Patagonia and Icebreaker. They are pricey and not bad, but not what I reach for when I am going to stay outside for a few days in the winter. So be aware that for pure functionality, some of the slightly cheaper stuff might be better because it is a little more coarse. We are still talking merino here, and what most people would not describe as itchy.
The thing about not holding water means that it does not create a thermal bridge. It is always smart to stay dry when cold, but it is almost impossible if you are doing any kind of activity. Wool can hold a lot of humidity without forming a thermal bridge or really feeling wet. You dont want the wicking properties of synthetics when it is cold. The moisture will take a lot of heat with it when it leaves. In warm climates and for sports, then synthetics is pretty good. When it is cold, wear wool and move slow.
On a side note, merino is fantastic for not being itchy, but that itchy stuff is better when the name of the game is staying warm. When I grew up, merino was not avaliable here, so I had knitted undies, long johns and shirts. I hated it, but can deny how well it worked.
I love the cold. There is always a way to deal with it, and it can be really cozy. There is so little you can do when it gets really warm (that I know of…)
