I've owned a SP Elite 2.1 for a couple of years. It is by far the best rain or cycling jacket I have owned, and I would buy one again. The big problem with most cycling rain jackets is sweat management. You build up so much heat, sweat and water vapor from cycling that -- with most jackets -- you get just as wet from sweating as you would from the rain. This is particularly a problem where I live, in the Southeast USA. The SP Elite isn't flawless in that regard, but the best I have found. With most jackets, I cannot ride in temperatures above the mid-40s F without sweating too much. With the SP Elite, I can comfortably ride in the 60s F. It is also very effective in cold temperatures with proper base gear underneath it.

In addition to the Event fabric, the SP Elite has extremely effective venting -- from the back, pit zips and sleeve cuffs. When it's really cold, you can adjust the sleeve and pit vents to allow less air. My jacket has been very comfortable for me riding in temperatures ranging from the mid-teens to the upper 60s F.

Other features that I like include: bright colors if desired (and I do), front vest pocket and large rear pocket, optional hood, reflective bands. It also fits me well, which is an individual issue. I initially ordered the wrong size (M) based on reports that the jackets ran large but it was too tight, so I exchanged for a Large and it fits me perfect. The jacket is also comfortable and in my opinion looks nice. In fact, a number of people have complimented me at random about the jacket, asked me where I got it, and remarked about how nice it looks.

To give you some further context, I have also owned cycling rain jackets made by Performance, Craft and Pearl Izumi. The Performance jacket didn't breathe at all and caught wind like a sail, and I returned it. The PI jacket was OK but not very effective at keeping out rain and not very breathable either. The Craft jacket was very effective at keeping out rain, very well made and nice fitting but was too warm in temperatures above 50 F. I also own non-cycling rain jackets sold by Eddie Bauer (Goretex) and Marmot (coated nylon) and they are fine for hiking and walking but are not designed for cycling.