Hard shell because I fall in the snow often.

Pullover Anorak with:
zippered chest pocket
tunnel hand pockets
hem drawcord

Fabric ? Breathable and windproof is important. I wear a jacket in the winter and a poncho for 3 season so waterproof is not important.

Limits:

Weight: I can carry both a GoLite Ether and a Sierra Designs anorak for less than 13 oz.

Cost: The combined cost of the above on sale was less than $100.

A more technical jacket is needed when you encounter mixed conditions. That could be either traveling Liberty Ridge route on Rainier or in and out of stores shopping.