This is a loose fitting large. Im 510 and 182lbs and usually take a large jacket, and most large windbreakers in large allow me room for a very light sweater. This one has room for a very heavy sweater and a shirt and is still roomy. I don't mind thought, because even on the loose side it looks nice.
It has a mesh interior which adds some bulk, and it is wind and water resistant for sure. Yes the wrists are elasticized, but not in a way that squeezes you wrist like a band. Thats because it also has a Velcro strap that allows you to tighten down the wrists or leave them looser. The pockets zip which I like, otherwise I would be nervous using them for anything but my hands.
My only complaint is the smell. Dont plan on wearing it right out of the box, it has a weird odor, oddly reminiscent of fish, but with a chemical background. Youll want to wash it before wearing. Other than that, this is a quality windbreaker.