This is definitely opening a door to much debate. Given I live in the Seattle area and commute by bike, I believe I have more experience than most with this. And, the reality is that if you are a furnace, even the best of jackets only breath so good. I am currently using what might be the current best, which is Endura's newest jacket. It is light for a real rain jacket, breaths good, and is extremely well made. However, it is well over $200. My Showers Pass jacket is heavier and does not breath as well, but it was the best I had had, prior to this new jacket. I have not found pants that are on the level of the jackets. So, with pants, I go with pants that are easy to get on and off over my shoes, cannot remember the model, but they are from Showers Pass. I don't put the pants on unless it is raining, versus drizzle.
Good Luck.