I went to Wal-Mart during my lunch hour and bought two of these. They had one in navy and one in grey.
If I put a Patagonia or Mtn Hardware or TNF logo on the chest of these 95% of folks would be none the wiser. The elastic around the bottom is a little odd, but it's not horribly restrictive. I wore it while out and about and it was quite warm. There are pockets on both sides of the front and they both have zippers. There are pockets inside the jacket as well, but they are at the bottom, not up on your chest. They don't seem very functional, but maybe good for a map or something?
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If I had to guess where the drastic price difference comes from between these and a high end brand, I would say most of it is the high end brand logo. The rest is that the jacket is filled with duck down, not goose down and there's probably less of it than some other jackets.
Considering the price, this was a great buy. I'm pretty pumped about it and I'm thinking about sleeping outside tonight </sarcasm>.