Need Jacket advise

I have a Cabelas Goretex parka, an oldish version. It is effective and warm but very very bulky. One would never try to stuff it in a pack.

I just returned from a wilderness backpacking elk hunt. This coat was effective. But my buddy had some flavor of First Lite (sp?) which was just as effective and perhaps 1/4 the bulk. Needless to say I will be looking at options here for the future. His packed up to a package half the size of a pillow which he actually used as one at night.
 
Here in Montana you may get to -20 at night or in a cold front. If your doing any hiking you will be sweating even at sub zero temps. Heavy Cabelas stuff is for stand hunting. You need layers that can be taken off and put in a pack as needed. Forget camo, thats for bow season and they rip you off for it anyhow. You will be wearing orange over it anyway. Go to your local REI and pick up some light layers and an down jacket you can pack away. Remember, sub zero, no water (its ice), you want breathable not water proof. No cotton.
 
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