The fact is, there's a lot of good stuff out there, including W-M new and thrift-store used for the super budget-conscious, to mid-priced (new) like Lou Fox and REI, to premium-performance like Assos and Gore Bike Wear and Craft's top two tiers. In the higher-priced realm, you will get longevity, so amortized cost is good, and in GBW's and Craft's case, you can get some amazing deals in the spring, and use them the next winter. Assos, not, because they don't update their lines frequently, so closeouts only occur some years.

I have found that a less-expensive rainpant is a nice, versatile thing. I took a ride at 30 to start, dropping to 25, 2.5 hours, the other day. It started out raining, then went to sleet. Lots of ice particles sticking to my kit and some slippery bridges (going up them, some rear-wheel slippage under power).

I was wearing Columbia Omnitech rain pants. The waterproof/breathable material is expired-patent Robert Gore's porous (usually called "expanded") polyfluorotetraethylene ("ePTFE"). A lot of companies use Gore's invention today, like GE's eVent, which is a nice alternative to more-expensive branded Gore-Tex. eEPTF was amazing in 1976, it is still "the gold standard". Some companies have tried to come up with something better from scratch, but a large number of them have concluded Gore's membrane beats what they have come up with on their own.

I got my Omnitechs on sale for $30. I don't wear them all winter, just when it gets really cold (teens or colder), or when it's raining. Should last many years.

A good breathable-membrane rain paint is light, packable, and wind-blocking. It's loose enough to give you a satisfactory range of motion without feeling constrictive. For cycling, wear an ankle band on your right leg to keep the pant from getting greased or caught in your chainring.

I mention a breathable rainpant because it will suffice for running, and provide excellent wind-chill amelioration that becomes evident with higher-speed cycling, for somebody who wants a two-sports pant. It provides nice warmth-enhancement on the bike even if it's too cold to be raining.

Bibs are optimal for cycling. They stay snug at your crotch and provide an additional belly-warming layer to your regular top(s).

With regular pants, you can "tighten up the crotch" so it doesn't hang up on your saddle nose or make you "artificially" have to rise up high to get reseated after stops, by attaching snap-on suspenders, and then if you want, easily detach them for running.

Don't forget your top layer. Showers Pass Elite 2.0 has a proven track record. They've reportedly tried some "improvements" which failed, but they've got things dialed in now.

At $230 it isn't cheap, but will last many years.

I've worn mine from 50s down to 20s, and can see it going even lower. I'm not sure the breathability is better than GTX's current offeringsw (Paclite, Performance, Pro), but what makes the 2.0 very effective is multiple bulk-airflow adjustment features including a dual-action front zip (you can unzip it from the bottom), pitzips, velcro cuffs (tighten them to your wrists or open them up), and a backvent.

A few days ago, I "overlayered" underneath, but with the pitzips open, and the front half-opened, I was comfy in the 20s. On another ride 48-50 degrees, I had a summer jersey on underneath, for a two-hour ride, all venting set to max-flow, and it was great. (I'd normally wear a regular-weave thin fleece, or Windstopper fall longsleeve jersey, but I just wanted to test 2.0's versatility.)

If you get the 2.0 at REI, you get a 10% dividend, or wait for their 20% off sales (no dividend credit). Plus, their full-satisfaction guarantee, at any time.