I've been wearing the Patagonia Capilene 3 Bottoms for a season, but the waist band has been getting worse with frequent wear. It also sits a few inches too low for my taste. The Capilene line is made with synthetic polyester. Many people have been moving away from synthetic to Merino wool for winter hiking warmth, so I thought I would take the jump too.
Unfortunately the Rab MeCo 165 isn't exactly what I was looking for. I was hesitant to spend too much money because I just bought new winter hiking boots, so I went for the $40 purchase. First thing I noticed is that the waist band is extremely high. It goes up all the way up above my core and sits right below my chest. The rest of the baselayer fits fine though. Another problem I have with the 60% Marino wool 35% recycled polyster (Coconut fiber) blend is that it is itchy. However it does work as promised. It kept me warm with a thin shell pant at 4,000 feet/15 degrees in the Whites, and it is odor resistant as promised.
Still, I wouldn't strongly recommend the Rab MeCo 165, even for a budget purchase. I will probably splurge on a nice Marino wool pant baselayer later this winter.
Size info: M
I am 5'5" and 135 lbs