This post addresses my observations from recent, multi-day, pseudo-science clothing experiments in my yard . Warning!-dealing with perceptions….not objectively measured data.
Skies were overcast with temps in the 50sF. I sweat very heavily and was working hard so all garments shown were subjected to potentially soaking sweat.
For all trials I wore polypro fishnet as the first layer and a Patagonia Houdini for the outer layer. The ? represents the layer with which I experimented.

I tried 3 different mid layers, A,B and C.

A=6.6 ounce cotton/poly t-shirt
B=6.8 ounce polypro pullover
C=13.4 ounce fiberfill (sandwiched between two nylon layers) underwear
After about 2 hours of work I am sure that all garments were subjected to a potential soaking of sweat. My pants and undershorts were also soaked down to about my knees.
So here's the question. Which mid layer garment gave me the greatest perceived warmth at the end of this two hour period? (Take a guess before you look).
Answer: A-the cotton poly t-shirt. Wasn't even close. B and C were both uncomfortably cool even after I entered the house.
Why? I'm guessing here and would like your ideas. I think the 50% cotton of the t-shirt was enough to absorb sweat that would have otherwise stayed on/in the fishnet next to my skin. My wife said the fishnet felt almost dry. The fishnet under B and C was wetter.
I did a similar experiment a few years ago with similar results.
In the early 70s I used an all cotton parka (Ventile?) as my outer layer. It was surprisingly warm when wet (and heavy). I'm guessing it absorbed a lot of the perspiration that otherwise would have stayed on the garments against my skin.
My other idea/guess with cotton is that it swells, when wet, more than polypro, fiberfill or nylon. This swelling might reduce airflow and evaporative cooling.

