For 'get me home if it starts raining' I use a Montane Featherlite top, I have a smock wih a short zip and a jacket with full zip. They are shower proof and breathe well but if you use a wash in proofer, designed for Gortex or similar, they are dry for a long time before they let water in.
For really wet rides I have an excellent Goretex Cycling jacket with pit zips and a full length zip with a zip guard. It cost me £100 and was the end of a line RRP was £180ish.
I use Rainlegs to keep my lap and thighs dry and a Streamer Fairing keeps the rest of me dry. For riding without a Fairing I have some walker's Gortex over trousers bought from TOG24 and some over shoe protectors. Too hot for anything but winter they see little use as I tend to use the Streamer all of the time.