I'm near DC, so nowhere near as cold as Minneapolis, but I do cycle down into the mid-teens F. For shorter rides, I just wear normal winter outdoor clothing (heavy socks with hiking boots, soft-shell pants, base layer+wool mid-layer+light shell jacket). It's chilly for the first few minutes, but I warm up pretty quickly.

The only part I find really hard to balancing clothing with effort. Easy enough for a quick run to the pharmacy or whatever. Harder for a workout or longer ride, where the effort ramps up quickly and excessive sweat quickly becomes a problem.

I enjoy riding in the snow (on my mountain bike). But, it's a once/season treat here.