When I commuted in the summer the only thing that worked for me was a rain cape. Yes, it catches the wind a bit, but in the kind of heavy rain when I was glad I had the cape, visibility was bad enough that I wasn't going fast anyway. For summer rain I just went bare legged (shorts) and let the rest of me get wet. In lighter rain and slower urban speeds the cape had a bit of an "awning" effect and that wasn't too bad. In cooler weather I used rain pants that sort of worked (but the cape again meant that only my calves were exposed). Along with the cape I might try spats or long wool socks if I was to do this again. Shoes? I had waterproof hiking boots in cooler months and some funky shower cap like shoe covers I used in the warmer months. These days in warmer weather I might just wear sandals or water shoes and let the water run out.