I have a e-vent jacket from REI that works decently in the rain below 60-70 degrees. Above 80, it's the difference between being completely damp from sweating in my jacket and being completely soaked from the rain (I prefer damp, but not by much). I like the breathability of the jacket, but the jackets several years old, several hundred dollars to replace and the waterproofing is becoming more difficult to maintain. I'm not completely sure I would invest in another jacket when I can't stretch this one out any longer. I've kind of resigned to getting wet no matter what.
Otherwise, a set of full fenders (I have the planet bike hardcore fenders) and a pair of vaude short bike gaiters are two cheap options that make riding in wet conditions MUCH more enjoyable.