It's chilly when I first walk out the door, but by the time I've walked a couple of blocks I'm warm and yeah, the warming effect persists for a surprisingly long time. I'm still going out in just a t-shirt, with temps in the 42-55F range, including in fog, wind, and light rain. At some point, I'll probably decide I need the jacket again, or at least a long-sleeved t-shirt, but this has been an interesting little n=1 so far.
Oh, and cold, wet feet in VFFs doesn't bother me at all, once I get past the initial discomfort. My feet got soaked yesterday, but I stayed out for hours and barely noticed it after the first 5-10 minutes.