AHA! If you were that wet, I would go with a better wicking base layer and a wicking mid, followed with a wind shell and NO rain shell. Add more insulation if you are cold and not sweaty, but no rain shell unless it is too wet for your wind shell. I like full zip layers so I can vent and conditions and exertion changes. Having cold face and hands when you aren't used to it is miserable and I think it takes a psychological toll.
I like Cap2 better to wick away sweat in cooler weather. It isn't much thicker or heavier than Cap1, but it I think it transfers moisture better. I think micro/100w fleece sucks. All the stuff I have used is warm but it doesn't seem to transfer moisture very well and just turns into a fluffy little sweatbox. That's where the R1 or Power Stretch kicks in: both are good at moving moisture out from your base layer and on out to your shell; either can be worn without a base layer if that gets soaked. IMHO, 200W fleece is more porous than micro-fleece and gives some insulation while breathing much better. It is worthless in wind without a shell. Do consider a vest for 200W stuff used with other wicking layers.
Keep that down layer for belays and after you have dried out or changed to a dry base layer. Sweat into that down at 40F and you have no dry insulation for when you stop-- bad, bad, VERY bad.
Those of us who travel in the PNW coastal areas, BC, SE Alaska (and Scotland) live in a cold sauna and walk a teeter-totter of weather cold enough for hypothermia, high humidity, and long hours of clouds and drizzle where nothing dries out. Going up steep switchbacks with a load, no direct sun, 95% humidity and 45F temps leaves you soggy. You can wear a shell and sweat inside, or leave the shell off and get soggy from precip. These are the conditions when wicking base layers with a DWR wind shell work wonders.