I had my first ride in some rain today (came on, no shelter for a ways). Definitely fun for numerous reasons. Not fun for the brakes not being there, but an added challenge nonetheless.
One thing I'll throw out as a tip for those that might not think about it. Only problem I had with it was that the shirt I was wearing was not entirely colorfast. I had the water running off the shirt with dye in it and had a mess of the rest of my clothes and stuff I was carrying. I washed the stuff okay and I think I'll get the dye out of the rest of my clothes for most part, so that won't be a problem. But something to think about when you buy something new - I'll probably soak my new stuff in some laundry soap real well from here on out. Something to think about anyhow.
What kind of brake pads and rims do you have? On my old 1980's bike with the chome wheels, the brakes were scarry when it rained. Nothing would happen for while after applying the brakes. With my modern hybrid bike I now can stop fine in rain. Even in a down poor, if I apply the brakes they grab immediately. Just like with a car, braking distance is slightly longer in the wet, but there should be little difference.
I also LOVE my SKS fenders. I don't worry about looking at the weather if I can ride or not. The weather determines if I can ride my road bike or if I ride the hybrid - my all weather "road warrior." With the fenders water now doesn't go up my front and back. I also have my rain gear always with in my pannier bags therefore I am never cought without protection.
I no longer mind riding in the rain except during early Spring and late Fall. Near freezing temps and rain make for some seriously cold hands and face. I still need to get some waterproof gloves later this Summer. Otherwise riding in the rain isn't bad.
The ride was great, technically, except for that. For what I can tell, I have basic chrome and basic rubber angled pads. The brakes going away wasn't a surprise for me for the rain because I was used to it happening for the slightest wetness, like riding out in the morning when there's dew on the ground or going through a puddle or the like.
It's really one of the many "unplanned projects" I got for the bike.