i second matt's opinion on a few things. Not sure if i could layer a puffy under it, havent tried...but as mentioned, 2 fleece layers over a baselayer was fine. I think longer sleeves are better than shorter...they don't ride up when you reach for anything. Also good for using trekking poles in the rain, as you can cover more of your hand. Either way, there is a velcro adjustment so you can cinch them above your wrist. They changed the hood on the 09 edition, so it has easier (and maybe even more) adjustability. I dont get a sense of a high collar when the hood is unfurled, however I do feel the high collar when i have the hood tucked in. And echoing what matt said, it can be a lil uncomfy. When you stuff the hood back in, the collar becomes very stiff which makes you notice the prominent high collar...hence why I thought the concept was a little gimmicky, and so i never use it. If the weather is really wet and windy, my hood will be up anyways. And if its not windy, then I dont need to worry about my hood flying in the wind, so that eliminates any need for me to ever tuck it into the collar. I can maybe understand needing to tuck away my hood when im bombing down a hill while snowboarding and the conditions are dry, but for outdoor hiking, hoods always out.
Also Matt, did the 08 have fleece to separate your lip from the zipper?