Seconded, SC.
I live in the middle of a swamp. I've ridden with quite a few different combinations of layers and such, and the cape absolutely kills for anything over 80 degrees. It's like having a permanent dry and (relatively) cool breeze around almost your entire torso.
Any jacket that can somehow pull certain kids moisture (sweat) from one side of a barrier while prohibiting other kinds of moisture (rain) is going to cost at least three times as much as even the fancy poncho.
(Not trying to be critical of those jackets, necessarily-- just that over a certain temperature and humidity there's precious little you can do with something that close to your body.)
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Villin custom touring | Raleigh XXIX | Medici Pro Pista | 1978 Schwinn Stingray