I picked up my Thermawrap parka from Pro Mountain Sports after tearing the sleeve of my down puffy, and it's all I've used since. The hood is key since it traps so much heat. Mine still looks brand new after a winter of ski touring, though I was quite careful to avoid skiing through closely spaced trees while wearing it. It is indeed Ultra Light, which also means you're sacrificing some warmth and water resistance, however the synthetic insulation makes that less of an issue. I think it's ideal for three- (or even four-) season use if you don't plan on long periods of inactivity.
As a bonus, hot guys like the one shown at left will instantly be attracted to you!