I have a Marmot Mica with hood. Hood is fine, has ways to make it snug to your head so visibility is not an issue. The jacket is very light and compact. I like that it fits easily into my bags. It ventilates fairly well but does wet through with warm and heavy rains. I think moisture gets through when rains are severe. Not soaking wet, just damp, especially on the shoulders. I would never use this jacket for mountaineering. My pants are Go-lite Gore-tex paclite. A little beefier but rain proof and breathable. Legs tend not to be an issue for sweating.

Foxwear Neoshell mentioned above seems interesting. I might be checking it out. I have his Power Shield winter jacket and love it. Great price for great material.