Not a bad idea. But, I believe that it has been tried with only limited results. Try looking up Elephants foot sleeping bag on line.
1) Sweat is always a problem. If you are not exerting yourself, you may still sweat. Generally more oils, but it still happens. This is called insensible perspiration. Look it up. It helps to keep you skin softer so it doesnt get dry and crack like a piece of glass. You can get cold, but still you need to sweat. Your feet are a good example.
2) Get hiking clothing off (It helps to defeat this.) Socks are a good example. they can dry out over an hour or so.
3) Smell, not that smelly and hiking are exclusive of each other.
4) Night time temps are typically lower than day time temps, true in NY. You will need a sleeping bag to offset this.
5) Sleeping metabolism is lower that waking metabolism. You are comfortable at around a 70-75 degree temp standing still. For hiking, a 40F degree temp is good. for sleeping, an 80F degree temp is good. However you maintain this is OK.
6) I think you will find that you will be OK at night, but too warm while hiking. Removing the jacket and pants will help. Soo, what do they weigh? What does a similar weight of sleeping bag give you in temperature protection? Like a glove or a mitten, I think you will find that a good sleeping bag will be warmer for the weight.
That said, I do similar by suplimenting my 40F bag in late September with a down jacket and mid weight merrino wool long johns. This will easily take me down to about freezing. In the morning, and at night, I wear the jacket around camp, doing chores. So, it isn't strictly sleep gear. Once I start hiking, it is in my pack, though. Only two or three times have I needed it during the day while I was hiking (I spend about 30-60 nights out per year and have for the past ~30 years. Spotty before that…somtimes down to 20 nights.) About 1100 or earlier, I shed the long johns, if possible. September and October are my favorite months to be out.
But, I really don't know how well you adjust to heat differences over the course of a day. You could be fine with that system. I used to be that way. I got the light bag and stuff anticipating quick adjustment. As I got older, I lost a lot of that and got the jacket. Diabetes sure don't help. I have a warmer bag, but I rarely use it.