I've been quite pleased with my Showers Pass Touring jacket. Tough and durable, reasonable venting and zip-vents, good fit overall. It's on the warm side, so it's great for cool wet weather and even snow with a wool baselayer and longsleeve jersey.

I don't wear it to keep dry so much as warm. On short trips it keeps me dry, but I sweat like a beast in the lightest of heat or activity, so any significant time on the bike will drench me; jacket or not.