This isn't my idea and I won't pretend it is. There's been a couple of comments on here about wearing the jacket all day. Having owned a softie type jacket (currently the softie RAF blue/Desert clone) and an Alpkit down jacket, I only wear them when I have stopped any activity otherwise they are too warm. Perhaps that's just me? I definitely don't sweat in them; that means I'm wearing the wrong clothes or it's summer!
Mittens and socks are a good idea, but these are already commercially available and more multi use than the single use type affairs that one made from the jacket/bag material would be. A reinforced (removeable?) foot box is being contemplated, so guess who the design could be used by?
A hood is a very good idea; but I suspect this would have to be a purchasable accessory, otherwise the price wouldn't be keen.
This won't be a set up for -20c temps and it won't pretend to be; HOWEVER' bear in mind that all of the worlds military sleep systems now boast temps down to absurd levels but that is whilst using the ENTIRE system which invariably includes a softie type suit. With clothing, this system should see off -5c comfortably. A bivi would add maybe +5c?
This concept is about providing reasonable warmth at a reasonable cost with reasonable weight/space savings.
Keep the feedback rolling in please!