well in short, it's overpriced poseur cafe wear.
Seriously there's so much better stuff out there for people that are serious about cycling.
Despite what you might read on tumblr, wool jerseys aren't used by the pros anymore for good reason. For a 30km cafe ride, they are perfect. Not so much for a 120km hill session. But if your paying $150 for a set of gloves to look good at the local bunch ride cafe of choice you've got more money than sense.
Can't disagree with that, but I will swear by my Snowgum wool base layers under the rain jacket for a commute on a crisp morning - maybe 25% of the time in Melb. They do a great job of keeping you warm, and don't stink on the way home. Icebreaker wool tops would also do the same job.
The technical material is ok but holds a stink even after being washed and hung out in breeze. Wool absorbs nearly 30%+ of weight and doesn't stink even after two days wear.
On the bike in winter (more honoured in the breach this year) base layer = sekret cheapskate bike network = womens xl merino fine wool plain black long tights and black long sleeved top from Cottonworks (from memory) @ $20 each. Had them about 3 years now and aside from a few tears, and moth holes from storing in shed, are still fine.