I agree, the search function is acting funny. Try changing it to "thread title only," and you should get better results (but not as good as the way it worked before).

Anyway, I've been thinking about the same piece of clothing. I didn't really find anything but do know that Shower's Pass eVent fabric jackets are supposed to breathe, though I believe they only use the material in a jacket designed for the winter. They also have the see-through ProTech, which might work pretty well. Then there is the Assos Climajet.

I got myself a Montane Featherlite Velo jacket, and a Montane gilet shipped from one of the British sites (try chainreactioncycles.com, evanscycles.com, etc). If I really hate them for some reason, I only paid about $60 total for them. They're not waterproof but rather water-resistant. Eventually you'll still end up wet, but they should handle most events short of a downpour decently.

edit: didn't see your hood requirement. None of these have hoods. Just use a helmet cover of some sort.