For winter I use the Centenary quilted Morgan jacket which is excellent, and from the bargain rack was £50.
So far I haven't found a leather/sheepskin jacket that didn't restrict arm movement, so I daren't order one on line. However those US Navy jackets look great.
So for non-winter use I have a waterproof sailing jacket (Slam!), and under that goes polo shirt, sweatshirt, (and fleece if colder). None of that restricts arm movements so I'm quite happy.
