For utility cycling, I cycle in all weathers. I don't enjoy cycling in the rain but if the journey is necessary, then it is something that has to be done. I wouldn't set out for a leisure ride if it was pouring with rain (the whole point of the word "leisure" is to enjoy it, surely), however if it starts raining part way through I will just carry on and finish, unless it gets very bad then I'll divert home by the fastest possible method.
I have been very lucky so far this summer as despite the amounts of rain we have had, I have only encountered light rain at the times I have been commuting. The really heavy stuff has tended to go through during the middle of the day. Unlike 2007 where I got rained on about 60 times in a six month period.