I have the vagabound II, and its great for wind and visibility (screaming yellow) but it will get soaked in a rain.
I ordered and returned a showerpass elite jacket last year. It was very short in front and the arms and long in the back (designed to fit in the cycling position) but I found the fit too boxy and wanted something I could wear on or off the bike.
I exchanged it for the craft rain jacket here on TE which I am very happy with:
http://www.teamestrogen.com/prodCR_192156.html. It is also screaming yellow and waterproof. It is slimmer fitting. I wore it once, and then lost weight so now it is too big for me. I was just getting ready to post it in the for sale section right here on TE, but if you are interested (size M, perfect condition, worn once and laundered) send me a PM with an offer.