Running in the winter is by far my favourite time to run... I run in -20c/-4f if there is no wind and it's bright and sunny it is the most pleasant time for running...
I layer...On top, I wear a windbreaker, under that I wear a wicking type of fleece sweater and under that a very light/thin wicking type of long underwear sweater... In very cold weather on the bottom I wear these pants that I found at Mountain Equipment that have a windbreaker type of material in the front part of the leg and there is a fleece type of material inside, very soft...
For sock I wear wicking types of socks... you can get special winter ones but it's really not necessary, just make sure they are not cotton...
On my hands I have gloves, again they are made of a windbreaker type of material and on top I wear a very light mit, I usually have to take the mit off mid-way into my run...
Very important, never ever wear cotton, you will sweat, it will get wet and you will be cold...
Good luck
EDA: Do not over dress, you're better off being slightly coldish when you start then warm up, than being just perfectly toasty warm when you start then overheating mid-way into your run...