The quality of Oakley outerwear is definitely on the decline, at least this year and last year. I mean their stuff looks cool I suppose but the quality/price ratio is not good. Some of their top end stuff with 15K waterproofness is good, but most of their other stuff isn't worth buying really. Like Xavier said, Oakley used to be the most badass shit ever, but not so much anymore. If you can get it cheap like from tramdock or from a Vault then go for it, but don't pay retail if you can avoid it.
Damn, I have a 3 year old Oakley coat that I got last year and it's 20k/20k and the material on it is just way better than their new stuff, super sick coat.
But if you want some really tech coats or pants try DNA or Spyder, or even 686 or Sessions make some good stuff.