Here's one from outside the box. Don't get a jacket, wear a wool sweater. Unless it's coming down relatively hard, a simple merino wool sweater will do the trick. I commute in Portland, and only rarely pull out a full rain jacket. On most days I wear a thin old wool sweater. If it's really cold, I'll wear two.

There is absolutely NO material that is actually waterproof that will remove sweat vapor off my body faster than I can make it.

After a sustained rain near the Oregon-California border. Wool t-shirt as base, thin shirt with velcro pockets over that, then an old wool sweater on top. 30 minutes later we were riding through a massive hail storm, and it got very cold. Then, and only then did I pull out my rain jacket-I wasn't sweating much at the time!