I don't get the idea of the Rainlegs - I rode in a light rain today, and my shins got as much or more water than the rest of me. Yes, I have fenders and mudflaps. Maybe I just ride too fast.
I have been using Performance Naniamo rain pants for about a year. They were pretty cheap. I have not been impressed. (1) they don't breathe much. (2) they are too short - I am 6', got a size L, and they need to be about 2 inches longer. (3) the water repellent coating seems to have worn off. Maybe that's OK after a year of use.
Generally not impressed. My Gill rain jacket has been much better.