I have one and I can't compare it to your 20 year old model, but I wear it skiing everday in winter, maybe 140 days of the year, I have fo 3 years and so far it's fine.
Generic clothing follow up: Is there some sort of guide to materials and fabrics within a weather context? Like a diagram of a guy and you click "-20C + biking" and it dresses him up and you can see all the layers and recommendations. There has to be something out there.