I love this shirt! It's soft and warm, but breathes so you don't get sweaty. I bought a blue one last year and wore it all winter - it is great for layering, or for hanging out at home, and is a bit more dressy than a sweatshirt or fleece. It will go over a turtleneck, a t-shirt, or a collared shirt and look great. This year I bought a red one to expand my wearing options.
I have 3 waffle henleys from 2007 which I love. I got one more this year and noted that it now only has 3 buttons instead of 5 and no inset placket. It's still a very good garment, but I for one would have gladly paid a few bucks more for the more tailored look.