At Newfound Gap in the Smokies, my hiking partner and I, each carrying a base weight of under ten pounds, continued hiking comfortably in blizzard conditions, while van loads of traditionally-weighted shivering hikers were bailing out into Gatlinburg. As a bonus, we had Ice Water Spring shelter and the next day in the Smokies all to ourselves.
I always say, experience trumps what you carry, and that the amount of gear a person carries has very little impact on that person's comfort in adverse conditions.
Experience will tell you that the best thing to do in the morning is put on those cold wet clothes, knowing that they're only that cold for a few minutes, but you've saved your dry layer for the next night.
It will tell you under what conditions you can safely dry some clothing in your sleeping bag with you. You can even dry some under your sleeping pad. Just a dry pair of socks, gloves, and a hat is a wonderful thing some mornings.
It will tell you how to keep your shoes (or water bottle) from freezing overnight.
It will tell you not to wear your puffy down layer under your rain jacket while climbing.
It will tell you to take advantage of a ten-minute sun break to dry things out, even a little.
And it will tell you when to give up, find shelter, make a fire, bail out, etc.
"Good judgment comes from experience. Experience comes from bad judgment."