I've ridden in the rain down to 33° and sleeting, and once did 70 miles in a steady downpour at 36°. The biggest problem is gloves. I'm now using Giro 100 Proof gloves: Amazon.com : Giro GA09000 Mens 100 Proof Winter Gloves : Sports & Outdoors

Feet are actually pretty easy, you just need to spend money. Lakes MXZ 303 boots are the best I've found. The problem with any such waterproof footwear is that water runs down your legs into the whatever it is. The fix is easy and cheap: dry suit leg seals around the ankles and over the boot tops. Bare Replacement Latex Drysuit Ankle Seals One Size Fits All (One Size Fits All) | Amazon.com: Outdoor Recreation or visit your local dive shop - probably cheaper there. I cut them to fit nicely around my ankles without cutting off the circulation.

I agree with the no-waterproof clothing thing. For bottoms, either PI AmFib or Performance Triflex w/o chamois (bike shorts under). On top, long sleeve Craft winter top, a heavy poly jersey, Voler Jet HiViz shell. I take along a wind vest in case the rain quits or to double under the shell.