i love riding in the rain. cept when cars cut me off, then it's worse.
but when it's wet out i'm just like "god damn i love riding a bike!" it's one of those "i shouldn't like this more than regular but it just makes me realize how much i love the world/my life/being alive"
be sure you have waterproof everything or wool or both. clothes can get pretty ruined with road grime if you don't have fenders, but that's not the number one reason to have full fenders. the number one reason to have full fenders is that unless it's cold enough to freeze rain, the wet will soak your feet without fenders just from running down your shins, and that's what nightmares are made out of.
i commute fixed in the rain with waterproof pant shells from performance bike and a waterproof taku jacket from rei as written about
here.
i hate the pants and normally just wear swrve knickers and smartwool long johns, which work ever better, but without fenders my shoes fill with water and for work i have to pack a change of pants. that means more time before i'm at my desk, and i don't like mornings as it is.