Nobody I know that is into mountaineering wears silk any more.
There are a few who do like merino wool, but the big favorite is Patagonia's Capliene. Got a buddy who lived in it for three days while stuck on the side of Denali at 14,000 ft. in a storm.
I've worn mine day after day. No smell problems. I usually hunt fairly dry areas, I might add. But as far as hunting effort goes, in spite of my eating rich, restuarant food on my off days, I lost 14 lbs. on my first elk hunt.
Like the man said, if your base layer doesn't stay dry, you will chill. I've got both merino wool and capliene tops. The capliene dries much faster. Not as warm, but I have my insulation layers for that. E
