I work outside all day 5 days a week in all weather including subzero temps and windchill. I use a heavy duty O2 rain jacket. It is absolutely waterproof. Period. If doing hard labor one will sweat in It therefore proper wicking layers are necessary in colder temps. My choice is wool.
On the bike I use the lightweight O2 rain jacket. I do not wear waterproof pants or anything, just tights which take me into rain at 55 degrees. Below that I don't ride.
O2 is low cost, durable and effective. My friends that hunt swear by it because it holds up to snags and rolling in the dirt.