Bought a light cycling jacket from my LBS whose tag read, in great bold face, WATERPROOF. Rode home in it through a light mist which passed right through the material only to collect inside of the jacket and drip down my arms and torso. Ended up much wetter than had I not been wearing the damned thing at all.

Took it back the next day, proprietor says, like I'm some kind of moron (okay well maybe I am) "You can't expect a light weight material like this to be waterproof, maybe water resistant, it's something you just wear a short time, walking out to your car."

Anyway I hadn't taken off the tags so my money was refunded. Still... grrr.