I've got the Wind Jacket and a full rain set. The rain set I only use if it's raining steady. It's waterproof so it's not the most comfortable thing in the world (especially the sleeves). Fortunately it only rains between January and March here so I don't need the rain set all the time.
The wind jacket is not very rain-proof but will handle mist or light rain pretty well. I LOVE the wind jacket. The 18" pit zips are the bomb.