Cabela's 4 in 1 owner for about a decade. If its above freezing I wear this jacket and a t-shirt. If its below freezing I wear a long sleeve or a thermal underneith. Always warm, always dry. I wore the shell to the Clemson Game this weekend as a matter of fact. Stayed dry through 4 hours of solid wind blown rain. Best part is if you pull the hood up and button every thing up it keeps your head dry, which is something most wax jackets miss. But a good wax jacket is hard to beat for a cold windy day. I dont think the two are interchangeable, you need both in the closet.