I have owned the Immersion Research short sleeve comp cag for years. It only sees the light of day when it warms up here in the UK. The cag is a short sleeved version of the Comp cag and shares all of its features with the exception of the obvious (long sleeves and latex cuff seals).
The neck and biceps cuffs are snug but comfortable neoprene gaskets. They offer great performance and although are not water tight are pretty close, even when play boating. When play boating for a few hours I only ever really get a small amount of water finding its way down my neck, just enough to make my thermal damp. I have never had any water find its way through the arm seals.
A semi dry pocket can be found on the front of cag which I only used for the first time last week. The pocket is well positioned and allows me to store my camera without any issue or interference with my PFD.
The double waist seal with a velcro adjustable outer waist seal married nicely to my IR deck. Nice and snug with no water finding its way in.
As you can see for the images I have had this top for a number of years and it is holding up really well. During the summer it does get absolutely hammered.