Rain capes are simple, one piece things that keep the upper body and legs dry. The only down side is the wind, they are like pushing an umbrella ahead of you. I have Rivendell Splats for my feet. They work really well. They are just a piece of waxed canvas with velcro fasteners that attach around the ankles and under the shoe. They work really well, can be used with any shoe and double as a nice saddle cover when you park.
I just bought a Chrome Rain Hoodie. It is really comfortable, has double zippers, pit zips pockets but the top of the legs are going to get wet. The chaps or some water resistant pants might be a possibility.

Marc