I ordered a bunch of stuff from 32 degrees for their latest sale, and bought the ultra-light down puffy. For $40, I figured it was worth a try. First impression: doesn't seem overly stuffed full of fill, but it felt plenty warm enough when I tried it on. I got the 2xl, and it's pretty roomy, easily can fit a few layers on underneath which is what I wanted (I'm 6ft, 250lbs). I didn't feel like a marshmellow man wearing it, so that's good. The pockets seem very well thought out and I was suprised at how many it had. It has 6 pockets, (two on the outside and 4 on the inside). Zipper felt good as well. Little bit of swishing sound when it rubs against itself. The stuff sack was an extra dollar and was a nice add. The jacket stuffed into the bag easily was was slightly bigger than a Nalgene bottle.
Never owned a down puffy before, so don't have anything to compare it too. For $40, hard to see how one could get much better though.
I'll take it up to NY in a couple of weeks and see how warm it actually is.