I have started wearing a soft shell jacket (Marmot ATV) for everything except hard rain. It's got just the right amount of windproofness, and it wicks fantastically. It's black, so I recently got a hiviz reflective vest to go over it. The best part is that I can walk around in the jacket with the vest off and look totally normal. Haven't tried a poncho or rain cape, but I hit some seriously high speeds, and I don't think they'd do the job.