Definitely warm and waterproof. However, they did smell like that awful carcinogenic vinyl smell that all bad dollar stores smell like.  Plus the fit around the ankles was strangle. It puffed out around that area rather than being laced in.  Thankfully I was not relying on the lacing for any sort of support.  I was worried the poor fit would effect the insulation, but alas, it did not.  They served me well for a 4 day trip to Colorado with plenty of snow and single digit temps.