Welcome atombob, It's nice to see another person from Eugene here... and a Family Guy fan no less. Just a few more weeks until it's back.

Finding an affordable jacket can be tough. You might be able to find something on clearance at bike shops or REI in town. It'll just take some looking around. I recommend something with armpit zips. It's amazing what a different they can make. I find they make a jacket more comfortable over a wider range of temperatures and keep you from getting really sweaty. Good call on the full fenders. They'll keep you and your bike's bearings so much drier. They're the best raingear to have.