I used to use balaclavas, then discovered hoods.
Now, I can't even remember when I last used one (a balaclava that is).
There's one exception: fast(est) grandad mtb riding (the gravel thing)
Think deep rims, tight fitting Assos, fast sport glasses, so muchly aero, I constantly ride 45 km/h as you know from my Strava, Shaf

.
Well, here the speed is high enough, that the hood(s), when not worn, are on the loose. Even wrapped up, they come undone, every 10 - 20 min or so. Also I'm happier to ride in road specific clothing, focused on function at higher speeds and more protection on the frontal areas. No hoods on two of my most used cycling clothes for easy terrain and anything north of 20 km/h ave.
Here I use, depending on temps, either thin skull hat (think single layer buff, or medium (double buff) or medium fleece incl. Windstopper at ears. Then a buff over it, trying to look like my dear Gramma did, when she went out shopping in winter. This covers the same area as a balaclava, but is much more flexible in use. Reach a ridge line and ride into a fierce head wind or cold-air lake? Simply pull the buff up. 2 second job done. Nose saved from frost nip.
Also, for severe cold, I have cut an old buff in half. This can act as face tube. Great stuff.
The fabric goes around my ears, nose and cheeks and when not needed, sits down my neck. It does get damp down there, but airs really quick when pulled up.
Lips protected with a fatty Blistex, buff and hoods if need be.
I still have a neoprene face mask I got more than 20 years ago and despite climbing in -35 °C and even less (and again way less due to wind chill), riding in -30 °C etc. I very rarely used it and long ago stopped bringing it along.
Yes, there are moments where a neoprene face mask makes sense, but they are rare. Unless you are Mike Horn traversing the canadian arctic in winter or climbing K2 in winter on the west ridge.
UK winter... . Use your buff
