You really need to check out Mysterioso Mtech.
www.mysterioso.com/
I just tried this stuff at the US Surfski Champs (borrowed from Carter Johnson). Very, very comfortable to paddle in and warm (a bit too warm on the day of the race). I am very picky about not having my arm motion restricted, and this stuff was perfect. Note that the sizes run a bit on the small side IMO. I normally buy large shirts, but I fit perfectly in the XL size. I didn't try the pants.