Bills knowledge is hard to argue with. But, for me, it raises all the complications that don't get talked about much. How skinny are you? Big, thick divers can stay in cold water much longer. A custom suit makes a huge difference if your body type is not average. Smooth skin out is way warmer than nylon out after you get out of the water. The amount of exercise while diving, depth, time for each diving session, air temp, etc all make a big difference. Makes it hard to address suit thickness without knowing the conditions it will be used in. A few examples: I dive in 70 degree water with a 3 mil custom, nylon out, with vest. A twenty degree difference in air temp (winter vs summer) cuts my comfortable dive time by 10-15 per cent. Until the suit drys, I get much colder after I get out of the water. My 70 degree water diving is extremely low exercise, mostly sitting still between dives. After a little less than 2 hours, I'm cold. For comparision, last dive I was with a big(not fat) guy from Canada. He was hot in less suit than I had. Change that up and swim around a lot and I'd be toasty too, can stay in that temp water roughly twice as long. My cold water diving ( 7-8c) was done with a custom 6 mil open cel in, smooth skin out, with vest and 1mil short pants (rough equivaltent of a 7 mil), fairly energetic diving, 20-70 ft. 45 minutes was toasty and an hour+ was possible, but I got deep down cold. I was warmer once out of the water.
How all this interacts is very individual and hard to give advice on.