Thanks guys for the advice and humor.
The course is a simple 4 day mix of orienteering, wilderness medicine, and non-rambo wilderness survival.
The goal is as was mentioned to wear something pretty close to what I would normally wear on the trails with these caveats:
1. Not ruin my typical expensive UL gear if possible, but rather comparatively warm stand-ins.
2. Remain mildly more comfortable during the course than I might during a real lost-in-the-woods scenario so that I can focus on learning a bit more than just being miserable.
All of the items allowed on the course would be things I carry anyway since I'm not a full-on UL'er – I'll have a typical 3.7oz Mora for example which most here would scoff at as overkill but that I've always carried in the woods.
Since I got the Precip for $48 new I'm not going to cry if I ruin it, and I'm going to score a 200wt fleece pullover/hoody on ebay it looks like as a stand in for a nano puff hoody. If I'm "allowed" to have rain pants as I would have on a trip, it'll probably be the new LUL event trail maintenance style rain pants (7oz) instead of the dry ducks I would normally pack.
So yes, I'm trying to maintain some realism for the sake of getting the most out of the experience, but I am cheating a tiny bit by not potentially ruining my Marmot Mica or Nano Puff.