I wanted to share part of my experience using latex gloves as a VBL while doing a Tough Mudder race last weekend.
So I decided to try using some cheap latex gloves with athletic tape sealing the wrist openings under fingerless mountain biking gloves to which I added silicone for more grip.
It's first true test was jumping in and wading through water filled with ice (name of the obstacle - artic enema).
Even right after getting out my hands felt pretty good compared to previous experiences and dry - no water got in.
Several other obstacles later with mud and water I still felt fine; then came the log carry which put a hole on my right index finger glove.
However I did not notice til after the next obstacle with water, where it partly filled up with very cold water.
Thus I was able to compare on the spot both hands, my left glove with no holes was much warmer and dried faster afterwards.