If it's raining, your feet are going to be wet. Period. Carry extra shoes (and socks) in a dry bag of some sort. I go back and forth on when to put my rain jacket on. For light rain I can ride damp as long as the temperature is bearable. If I put on my jacket, the sweat will make me just as wet as the rain. For heavier rain it's nice to have raingear. Mine is an EMS jacket I got on closeout a few years ago. It's a little bigger than I would normally wear, but it allows me to put on more insulating layers underneath and the hood is big enough to go OVER my helmet. I don't bother with rain pants. Fenders are probably the single best raingear you can have on a commuter bike.