I have an old Helly Hansen shell which I love. Nice adjustable hood, packs in its own pocket to the size of a grapefruit. Keeps me dry. I don't know the model name - Looks closest to the current Helly Hansen Vancouver. Shop around and they can be had for $50-60.

After ripping one of the arms in the HH I got a Marmot Precip. Has an even nicer hood. Lacks mesh lining, however so I can't stand wearing it over short sleeve shirts. Doesn't seem to breath as well as the HH.