I live in Vancouver and it was pouring rain this morning when I rode out at 7 am, for a 2 hour ride.

Here's what's working for me so far:
- head: just the helmet - I don't care if my head gets wet.
- ears: Pearl Izumi Barrier headband - really keeps my ears warm.
- hands: Castelli Pioggia Gloves - personally tested 100% waterproof and windproof.
- feet: wool socks plus booties. I have two types of booties - MEC Cycling Shoe Covers 100% waterproof from rain above but has an open bottom so cold gets in, and Pearl Izumi Cyclone Shoe Covers, very warm until it gets wet. So really, it's one or the other so far.
- body: MEC Hydrocycle jacket - love this jacket!! 100% waterproof. These days with 6C temp, I just wear a baselayer or a long-sleeve jersey underneath and I'm good to go. When it gets down to freezing marks in Dec/Jan, I usually add another layer.
- legs: MEC Cyclone tights - waterproof fabric but seams are not taped. Works really well in Vancouver rain.
- eyeglasses - just let it be. It gets worse if you wipe it, unless you complete wipe it down dry. You'd be surprised at what you can still see with droplets on your glasses.

Feel free to experiment. Not everyone feel the same. But these should get you started. Oh and yes, don't forget fenders.