I suffer terribly with cold hands - actual pain - and have ended up with a pair of Nikwaxed Thinsulates plus LGT Polartec liners - just tolerable.
Browsing OutdoorMania I saw some Trespass Kommen Ski gloves for £16.99 - Insulated, waterproof, breathable with a removable insulation glove, snot wipper, grippy palms, goggle scraper, one handed drawcord, gauntlet that covers a fair bit of your forearm.
Brilliant bit of gear - highly impressed.
They also sell Buff ripoffs - I already have the Cyclone & Summer Buff so I got the Polar - compared to the genuine Cyclone the quality is abysmal but is warm and plenty long enough to make a double layer cap or balaclava and at £8.79 not bad value.
Gloves
http://www.outdoormania.co.uk/Product.aspx?ProductID=188
Buff
http://www.outdoormania.co.uk/Product.aspx?ProductID=501

OutdoorMania might not have a huge product range but they deliver super quick & often have great bargains.

I've found layering is the solution (I get bad Raynaud's syndrome). If the gloves are too thick, they run the risk of reducing circulation. I tend to use a pair of windproof or windproof+waterproof gloves that aren't too thick. When it gets windy or wet, I use some goretex over-mitts. I can't believe how well this works, or how long it's taken me to try this obvious combination. It's much more effective than thick ski gloves.