Well, the "jackets" do have sleeves and maybe even a zipper, so I think I can stand by my original characterization of "little better".

FWIW, I like my Sugoi Helium rain shell. I also have a less-expensive Louis Garneau one that's good for colder and/or heavier rains - because it's closer to being a plastic bag.

And for those that didn't notice the implications of Shimagnolo's post, I'll say it explicitly: if you ride long enough in the rain, you WILL get wet.