In reply to GridNorth: Why don't you just give it a go and see what happens? I suspect that it's unlikely to be the one factor that leads you to getting hypothermia either way.
FWIW, I normally wear a merino t-shirt under any powerstretch top, or pants under my PS salopettes. That way the mid-layer doesn't pong at the end of the day, but if you don't mind chucking it in the laundry after a day, I'm sure you'll find it very comfy.