I have Patagonia Capilene and have owned the same set for years. I don't use it that much, but as far as I'm concerned, you can't beat it. It is pricey (wasn't way back when), but goes on sale about twice a year. I have the old midweight long sleeve turtleneck and bottoms and a newer expedition weight top I really like.

It doesn't itch, doesn't smell at all (unlike the old polypro) is easily washable, looks nice and is warm. I've worn mine hiking, skiing, climbing, biking and wear the tops around here in winter (that's LA winter) for a shirt if it's cold out.