While I mentioned Showers Pass in a previous post, The best cycling rain jacket that I've used is a REI house brand that I bought in 2004. I used it commuting for 8 years, thousands of miles of extended tours, and used it to ride to the gym this morning. I just cleaned it , and treated it with Nikwax products, and it still repels water (this is Oregon).
I have used it so much that the back has almost faded to white. I have retired it, but still use it around town.
I have had 2 Showers Pass Jackets, and was not real happy with the lower end jacket. I do use a SP Elite that seems to be holding up pretty well. However I picked up a REI jacket (Stratos) when they were changing their brand name, and I think it is going to be better than the SP Elite. Unfortunately, they have changed styles, and IMO, not for the best.
My wife with her SP jacket on the Oregon Coast. She has since replaced it with an REI Stratos.
We have taken extended tours, 2-3 months long every year, for the last 15 years, so our raingear is important to us. On a 3-month tour we encountered 35 days of rain. Good rain gear is well worth the price.