For flexibility, I went with the layered approach:

- Fleece long underwear
- Fleece warm-up pants & jacket
- Spray jacket and pants with snug fitting cuffs

With the harness on and ankle/wrist cuffs snug, it kept me warm and dry even after I went over the side for several minutes (the legs got wet up to the knees, but the harness kept water out of my torso)

Granted, this was on a buoy course in 70 degree water, but the air temps were lower 50s and blowing like stink. If I had a wetsuit on, it would have really been cold.

The layers help with abrasion resistance, and had greater flexibility than a snug-fitting wetsuit. Also good for perspiration when the sun came out. Fleece is nice because it doesn't absorb water and stays warm when wet.