All of my attempts at using "breathable" laminated shells have resulted in the sauna effect. I use full fenders, wear wool or wool-like fabrics, get wet when it's pouring, but I stay comfy and warm.

The only thing I want to add to my set up is some waterproof/resistant cycling boots that are also warmer than the Sidi Bullet 2s I use (not booties). I'm probably going to spring for some Answer Kashmirs over the summer.