A little late to the party on this one, but I think this guy totally great. I don't mind the lack of contrast so much, in fact I think it's what makes it cool. The gray on gray seems very modern. The brown jacket also looks good, but just more traditional. Slightly darker gray pants would be great, but I think slightly lighter would be even better as it lets the navy overcoat and scarf provide the contrast. Sometimes jacket and trou only need a little bit of separation to look good. I like to do this with tans, too.
I agree with you Parker, it looks great. Partially because it's not the same old look.