I guess I like both.
Mine from the JCrew outlet is lighter weight and I could possibly wear a sweater over it, but I doubt I will because it's a little oversized. We'll see. Like you, I will probably layer a tee under for more warmth.
However, I am thinking about also getting a heavy one, also from JCrew, for colder days and for outdoors. (That's below, in Finds.) My house can be drafty and I hate to wear tons of layers.