Well, the Grunden should be here on Thursday, and it's still rain season in WI, so I'll update this thread after a few rainy rides in it. It claims breathable, waterproof with taped seams, pit zips, and hood. It also has the velcro cuffs and cinch-able waist. I think as long as it's waterproof, it'll do the job just fine. I definitely like that it's very light weight and compactable for touring.