Excuse me, but wearing my clothes in a bag isn't making it loft any less. Think about it- when you have on a jumper, it only adds a few mm of bulk to your body. Do you really think this is going to compromise the loft of your bag? Is your bag that tight?
And as to your other statement; If as you say, my clothes reach a level where they cannot insulate me any further, where is the heat escaping to? Into my bag of course! Just because the bag itself doesn't feel as warm when I'm wearing clothes doesn't mean it isn't insulating me. It simply means that the heat is where I want it to be- directly against my skin.
As to having an inferior piece of kit- why use a warmer(read heavier) bag than you have to? why not use a thinner and lighter bag and use your clothing which would otherwise be lying unused beside you at night. One of the most important lessons in selecting gear is having an integrated system.
And my gear choices have been carefully thought through. My sleeping quilt I have made 1.5 inches thich, so that it will keep me warm to around 40 degrees F in accordance with the Effective Temperature Rating Formula - ETR=100-(40 xT)
If I encounter temps that are colder than this (ie. winter) then I put on my coat when I sleep.
Wouldn't it be strange if you got warmer the more clothing you put on during the day, but colder the more you put on at night. Hmmmmm...