I think the Hibernation Parka is just fine. Hows that? Its a thigh-length, down-insulated, highly water-resistant jacket that works best as sort of a city-style commuter jacket for nasty winters. But...availability is rather limited, as Patagonia isnt making it any more.
The Shotover Down Jacket
What Patagonia does offer now is the Shotover Down Jacket ($375). Its clearly a jacket for enduring a winter in Chicago, not an alpine adventure on Mount Whitney. Its cut long, and sandwiches 600-fill down between a tough polyester shell and a smooth polyester lining. Weighs a ton, metaphoricallyfour pounds.
Marmots Yukon Parka ($360) is very similar. A little better down fill (650) and covered with Marmots proprietary MemBrain fabric, a waterproof-breathable material with pores that open when youre warm for better breathability, then close up when you cool down. I think its a little nicer-looking than the Patagonia piece, to be honest, and I assume fashion is a bit of a factor here.
If function is the target=, just get the Feathered Friends Helios Jacket ($240). Super-light (weighs a pound), really well insulated (800 fill down), covered in Epic fabric for good breathability and water resistance. Very nice!