Center for App transport in Eugene has taken up the waxed cotton thing.. brighter fabrics..

After reading all the posts and doing some more research we've decide to buy new (loose fitting) rain jackets.
We just need to find jackets that have the most vantilation flaps like on the armpits, across the back and if possible across the breast.
It seems too much of a hassle to put on a poncho, worries about having to get off the bike quickly without having it hang somewhere, wearing it on stormy days and getting blown off the bike with a strong crosswind gust.
Thanks for all the replies, you've helped us make up our minds.
cheers George and Monique

Repeat : A cycling specific rain cape is not a Poncho.

I too find that a jacket with ventilation flaps and underarm zipps work well, as at least keeping the airflow going through helps with not feeling so sticky, even though it will always be damp to an extent. The Showers Pass company makes good ones in this regard, but I am sure there are many good brands in the Netherlands as well. As always, with something you will use for many years, not going for the cheapest is often better in the long run.
I agree for being leery of ponchos for crosswinds and headwinds, I am not fond of them for exactly this.

as for rain pants, I replaced my old pair last year with some North Face ones, lighter and less stiff than some on the market, and were not so baggy as others as well. I think they were about 80 or 90 dollars canadian.

have you ever used rain booties? I really like keeping my shoes dry and they work great even after rain has stopped by keeping the spray off your front tire off your shoes. Again, like raingear, there are all kinds of models (and prices) available.

For touring in rainy but not cold weather, I'll start by wearing a waterproof breathable jacket to keep my upper body warm, but I'll keep riding in shorts until the temperature cools considerably. This combination works because my legs will stay warm from the exertion of cycling. Because my jacket is grey and navy, I'll also wear a reflective vest while riding in the rain.

@fietsbob: Sorry I meant both.
@djb: We always use booties they do help alot. We also use them in the morning when the grass is very wet at the campings so our shoes don't get wet. We even have thick winter booties for when we do day rides in the middle of winter. But the temperature has to be around freezing else our feet sweat.
@Newspaperguy: We do the same, but do carry leg warmers (like very thick stockings without feet) that can be put on/off very quickly. They are also great in the mornings when it's very cool.

I have a rain cape that I used to commute in Ireland but have not used it for touring. As at least one other person has pointed out, if there's wind they are a real problem since they turn into a giant sail. And there is a learning curve to manage the "hand grips" from inside without catching stuff up in your gloves. However, when it's pouring rain and cold but no wind, it is my preference over the rain pants and jacket. I found the same thing as everyone else: if you cover up enough to keep the rain out you will still be wet (with sweat) under your raincoat. The rain cape does not have this problem. One thing to note: if you run through a puddle so that you're getting splashed from beneath, it will not protect you from that. I have both and use whichever one is appropriate for the wind conditions on the day.

We found the same system works for us. Rain pants are too hot and humid. We have lightweight raincoats with good ventilation. They are Gortex, but if it's raining and we are pumping, the vapor sadly does not get out. I too have a visor on my helmet which helps some with my glasses, but if it is raining too hard, or really misty, I have to remove my glasses. I would worry about a poncho in high winds. Seems like it would act like a sail; not a good thing in a headwind or crosswind.

For our heads we use cheap (white for visibility) shower caps that go over the helmets, they really help in keeping our heads warm and dry.
Also in the night they double as covers for our leather saddles.

Periodically I have tried each of the new high tech wp/b rain gear improvements. They all failed me and I always go back to my very old calf length hooded Patagonia trench coat made with Sealcoat nylon. It does not breathe at all. It is now 30 years old and works and looks like new.

The two way zipper allows me to back zip from the bottom to increase coverage or decrease it depending on rain, wind and how hard I am pedaling and how much sweat I produce. Even in long cold downpours along the Divide Ride I only wore a merino long sleeve wool top under the raincoat. This combination works amazingly well for me as the wool keeps me comfortable while I am adjusting the zipper opening as I heat up or cool off. I do not use rain pants as I found that I overheated no matter how I adjusted them. I use thin merino wool tights or knickers with at most a wind pant over it.

I hear the siren song of new tech waterproof/breathable fabrics regularly but have will put wax in my ears [as Odysseus did to his crew members] to prevent another futile purchase. I will stick with what has worked.