This fall I bit the bullet and purchased the J&G waterproof/breathable Jacket, pants and helmet cover. Have used them several times in everything from light misting to driving rain in 35 degree weather. In short they're phenomenal. The jacket doubles as a 'light' overall windbreaker or a 'full on' rain jacket. The pants are a little unwieldy, but a small price for the coverage. The 'internal wetness' one generates from the physical movement of cycling is kept to a minimum. Yes, you WILL get wet from the inside, too but not as much as with some other brands.

My only quibble is the lack of color options. Would like light blue, etc. as the yellow is a tad much. I understand the visability factor, so it's a 'style' thing for me. Get the jacket a size larger than you wear in other clothing as having the extra room for laying helps alot in cold/wet weather.

Also, gaiters w/neoprene shoe covers and neoprene gloves allow ones extremities to hold heat while wet. A 'baseball cap', adjustable visor helps in keeping the rain from striking goggles and allows heat to escape from the head if needed.