My cold threshold is a bit higher than a lot of folks here, but anything above 70F, I just get wet (and rather enjoy it). Below that, it depends. In this area, it's usually a light mist or drizzle, in which case I have a Novara Jacket and tights that are water resistant enough to get by for up to a couple hours ride. If it's really coming down, I will wear a lighter under layer, and get the actual waterproof jacket and overpants. By the time it's cold enough that I would need the really waterproof stuff, and the heavier insulation, there's ice on the roads, and I drive the car.