I have a pair of cabelas, but I don't see them on their website, so they must not make this model anymore. Anyway, it's very thick, warm polar fleece appropriate for extremely cold temps. Nice, though.
In just "cool" temps I go with base layer only. Under armour coldgear. Maybe a pair of shorts overtop just so you're not traveling in your underwear, lol. In extremely cold weather it's the under armour and the fleece pants in combo under the waders.
I do the same for hunting, although, expected activity level means more than temperature there I have insulated bibs over top and your not standing in water. If I'll be doing a lot of walking it's just the under armour and bibs. If I plan to be on stand, I usually pack the fleece pants in, and then put them on when I get to the stand. Otherwise, I'd sweat them up on the walk in.
As far as pants go, I struggle more with what to wear under my waders when it's hot, not cold. I don't wet wade and hate the feeling of bare skin against waders. Yet most base layers are too warm. Those zip-off shorts/pants things are usually made of nylon and do alright, or if you find a good pair of thin polyester hiking pants.
Cotton is the enemy. Warm or cold. For outdoor pursuits I will not allow cotton to touch my body. Not in underwear or socks even. Even in everyday, non-outdoor wear I'm trying to minimize cotton in my life, with jeans basically being the last hold out.