I love my Arc'teryx Accelero jacket for spring and fall weather. It's water resistant but not proof, although it's made for DWR, so if you shake your arms and torso off every 15 minutes or so, you'll stay dry indefinitely. It lets about 1/3 of the wind through, which winds up being like air conditioning. Not a convertible, though, and it's only got one pocket, on the sleeve. But it works amazingly well for me.