Another Showers Pass fan here. I ride in the Pacific northwest and have done some long rides in all day wet in the 30sF and done many winters of commuting 12 miles each way. I now have 3 of their jackets. My first, long "dead", is now a dry weather windbreaker. #2 is the more expensive lined ve3rsion and is a great commuting jacket but too warm and not jersey pocket stuffable. #3 is unlined and I treat it nicely to postpone becoming like #1. Great ride jacket.
All the Showers Pass jackets show their riding heritage. Virtually everybody there rides. Many commute. The jacket reflect that. Everything works. Good fit while riding. I don't even think about mine until the temperature changes, then 2-way zippers and big armpit vents do a lot. (The 2-way zipper also means that you can start the bottom and have the jacket fit over pockets stuffed with food, tools and more clothes while allowing you to bend forward comfortably and not rip that expensive lining on those tools. Also get to your jersey pockets without having to unzip from the top. Nice if it is raining hard!
Now I highly doubt the jacket would keep you dry after riding in the rain all day, then camping in that same rain. I believe the membrane has to start dry to work. So it may just be an expensive windbreaker that second day. (But a very nice windbreaker.) If it were me, I'd bring it and have enough wool/fleece to be warm wearing all of it plus the "windbreaker". (Done too much offshore sailing; brought the clothes and was comfortable and watched others suffer.)
Ben