It all depends on what you want out of your rain gear. I just want my rain gear to keep me dry and warm enough not to become hypothermic or get frost-bite. I plan on getting a little wet from either sweat or rain, and always take a change-of-clothes in rainy weather.
For jackets, I have a rain resistant polyester riding jacket (more for keeping warm than dry, actually), and an over-sized Gore Tex parka shell. The parka shell really keeps me dry, and I can throw the hood under my helmet if it gets really nasty. I control ventilation by opening and closing the front zipper. Like I said, I plan on changing clothes anyway for commuting.
For pants, I prefer mesh-lined riding pants. I've had good luck with a pair of those Illumilite pants that I got for Christmas a few years ago. They keep me dry and feel good next to the skin, but they are a bit warm sometimes. I usually only wear them when it is below 45 degrees F and raining, and also above my regular tights when it is below 25 degrees F.
I would probably get more serious riding gear if I was touring, or had a really long commute. How does the J&G stuff feel after an entire day in the saddle in cool-wet rain and sleet?