Another option for covering your legs is to use a pack liner, like a trash compactor bag. Assuming that you would be wearing everything you had in the liner bag in such a situation, it would be free to use for a "half bivy", ground cloth, or water and wind proofing a makeshift brush shelter.
Before getting an AMK space blanket style bivy, I carried a 45 gallon low density polyethylene trash can liner, aka a clear garbage bag. It is large enough to reach my armpits or make a full ground sheet if split open. It too can be use for improvising shelters or a solar still in warm weather.
A bothy sounds good for groups, but run a scenario for being separated. If I was doing a lot of winter backcountry travel, those vacuum packed thermal bivies sound like a deal.
If you have a conventional bivy and a light summer bag, they would make a better combo than any emergency style product, albeit heavier and bulkier. The survival stuff is designed to be compact, light and inexpensive, but spending a cold night in one is no trip to Maui. You would be a lot happier in a summer bag and a breathable bivy, the point being, if you own one, take it along.
Having a pad to sit or lie on goes with any of the above. In a perfect survival scenario, you can use evergreen boughs too.
That brings to mind another light snow camping survival tool: a folding saw. The current Gerber sliding style saw is about 4oz and $12. It is perfect for cutting shelter poles and firewood and far faster than short handled hatchets.