have to agree with ralf i bought one late last year endura baa baa and have worn it all through winter under waterproof/windproof jackets and nothing else and it has kept me warm and smell free, it does have a slight itchy feel to it but not too bad worth the money
I’ve used Howies ones for a couple of years. Thin so not that warm but layered it’s fine. I run 2 in winter as base layer and they probably get washed every 20 hours or so. No real smell (to a man anyway ;0)
In summer I either wear a long sleeve one or a no sleeve and normal riding top.
Only thing to watch for is once you get a hole in they can expand quite quickly.
Oh and make sure it’s machine washable (most are now). Howies have all been fine at 40degC wash.
Got an Icebreaker Atlas 150 in the end. I wore it for the first time on a three hour road ride on Sunday and really liked it. It fits really well and doesn’t itch at all. Can see it becoming one of my favourite bits of kit.