Best cycling jacket and pant set is Frogg Toggs Ultra Lite 2. Get a jacket and a pair or pants for less than $20.00 and they will keep you dry. They pack down incredible small and come in several bright colors. They work, but they will wear out in seam of pants and I will usually just patch them with some packaging tape. I have not yet wore out a jacket, just the pants. Did I mention they are less than $20.00 for both the pants and jacket? If they get torn or lost not a big loss. You can get them at big Box stores, eBay, and I have posted a link for Gander mountain.

Frogg Toggs Ultra Lite2 Rain Suit