Pros: These bibs do everything
Cons: Not inexpensive but well worth it.
When Patagonia creates a halo product, they stop at nothing to make it one of the best pieces on the market. The PowSlayer bibs with it's lightweight breathable 3 Layer Gore-Tex Pro fabric makes it one of the most weather and environment proof pant available today. At a ultra light 20 oz weight, the Pow Slayer is about the the best pound (err just over) per pound piece of gear to help you either on the long hike to the summit or sitting on an ice cold lift. The PowSlayer os not short on features to help personalize the fit to what you need with adjustable straps and even a "drop seat" for those full days in the back country when a "facility" is not within miles.
12/12/12 Update: Today, these pants lived up to their name, and they slayed the powder at Alpine Meadows. The winds were blowing and it was snowing a good 2" an hour at times and along with an Patagonia R2 base layers and a Patagonia NanoPuff, I was dry and warm in the weather that we had. Again, I have the utmost respect for Patagonia not pulling any punches when they designed the PowSlayer line. I increased my "value" score from 4 to 5 stars.
Check out the review of the PowSlayer Jacket.