My rain gear (9 months of the year)

Smartwool longsleeve jersey
Performance Tundra II jersey over top
Wool cycling cap or microfleece beanie
PI Cyclone gloves
PI Gavia Plus bib tights
Smartwool lightweight socks
Gore shoe covers

It's useless to try and stay totally dry up here, especially for a long ride. The best you do is to stay warm and keep your feet dry.
Other guys with the randonners wear wool gloves (Yehuda style) and wool tights and arm/leg warmers. Some wear Showers Pass gear, but it's not 100% going to keep you dry after too many hours.