To stay totally dry in rain you need a rain coat, fender, rain pants, and waterproof shoes. No one digs on the rain pants and shoes, so you'll probably get a little wet. But a fender does a lot to keep you dry. When Tropical Storm Hannah rolled through last weekend I went for a ride, didn't wear any rain gear except for a fender, and the bottom of my pants was the only part of me that stayed dry.

As far as handling, a fixed gear is much better in the rain. Stopping distances go to hell with brakes, so it's nice to be able to rely on something else to slow yourself down.