April, here is a description of merino wool from a backpacking magazine :
Why Merino Wool works so great:
"Merino wool comes from a special breed of sheep in Australia. Their wool has to work for them to keep them warm in the winter and cool in the summer, which then translates into the garments made from their wool working for us.
The long, fine hairs are extremely soft, light, airy, itch-free, and actually wick moisture away from the skin (something only merino wool does since it has a capacity to absorb up to 30% of its own weight of liquid and then release it in the air as vapor.) The wool is extremely breathable, which makes it great for hot summer days and is the reason our kids didn’t sweat when wearing it. "
And from Sheep101 :
Warm and cool
Wool is comfortable to wear in both warm and cool climates. This is because wool is an absorbent fiber. When the air is cool and damp, wool absorbs moisture and keeps a layer of dry insulating air next to the skin. When it is warm, that same absorbtion capacity takes up perspiration and keeps insulating dry air next to the skin, making the body's natural cooling system work better.
This is why explorers wore it. It has both cooling and warming capabilities. It has an incredible ability to insulate and wick moisture but has amazing breathability for when it is hot. It is my favorite fabric. I wear it in the light and ultralights in the Spring and Fall.
To your question. I wear the short sleeves under a blazer or sweater in the spring and fall. If it warms up, I take off the blazer and still feel very comfortable, even in sunlight. If I sweat, it dries practically immediately and giving a refreshing feeling, unlike cotton. In the evening, it is a great base layer under the jacket again and adds extra warmth. This also works well for me when it is cool outside but I will be somewhere inside where I will get hot. I never overheat the way I do in heavier knits. The durability is so amazing, that I will wear it at home when I am cleaning. If I get really warm, I take off the top layer and wear the T. It looks so much more refined, too. I find it a versatile, miracle fabric. I always travel with one merino wool short sleeve and one long sleeve t. ( In very high heat, I like linen over light weight woven cotton. )
Anyway , I hope that helps.