I think it was an old article by Will R here (winter outing in Yellowstone???) that got me thinking about a two puffy jacket system. Your outer jacket has to be oversized so as not to hamper loft, but it does build in a lot of flexibility.
In "summer" Ex Light or equivalent, in shoulder season Alpine Light or equivalent, winter both if needed.
The weight difference is pretty minimal as well- a close approximation: MB Frost Line w/ 6.7 oz of 800 down is 19.7 oz; MB Ex Light (1.8 oz of 900) 5.3 oz + Alpine Light Parka (4.3 oz of 800 down) 13.3 oz = 18.8 oz (roughly the equivalent of 6.3 oz of 800)
granted, there are other features in a winter parka- length, style of hood, etc that should also be factored in, but a two jacket system isn't a bad way to go :)