Cold weather photography equipment hazards ?

[imagemaker46]

I shot snowboarding a few years back at -45, was out for 90 minutes. I kept my spare batteries inside my jacket, and changed them fairly quickly. When I went back inside the cameras frosted over quite nicely and became very wet. I didn't take them back out into the cold. The risk of damage at that point was too great with the risk of everything freezing. Apart from myself being a little chilled, the cameras all worked just fine.