Your favorite LIGHTWEIGHT bike jacket?

[BleeckerSt_Girl]

I bought this jacket a month ago from TE:
http://www.teamestrogen.com/products.asp?pID=16089

It has all the features you are describing as looking for.
It's soft and stretchy, drizzle raindrops bead up on it (not waterproof in heavy rain though), wind resistant, big back pocket, reflective piping, formfitting, breathable, comfortable, nice and warm but not suffocating. I'd say it packs/rolls pretty small but not tiny like a light windbreaker might.
It looks FABULOUS and sleek and is so comfortable. I love mine and wear it all the time. I like that it's soft and stretchy, so it can fit over varying thicknesses of base layers. Always looks great and doesn't wrinkle.
The medium fits me sleekly without any bagginess -I'm 5'5" 140 lbs and pear shaped.

[xeney]

My mother in law bought me the Canari Tour jacket in a pale lilac color, and I love it. It's lightweight but it stops the wind and it's water resistent, the sleeves zip off (and you can also just unzip them at the armpits for ventilation), it has a nice big zipped pocket at the rear and two front zipped pockets, it's nice and sleek so it doesn't catch the wind, and the whole thing folds up into itself if you don't need it. It actually has some straps so you can wear it around your waist, but it's also small enough to fit inside the exterior bungee on my Camelbak. I have worn it in damp 50 degree weather and been plenty warm, and then partially unzipped the front zipper and the sleeves, and I was also fine at 70 degrees.

It's a discontinued style but they do turn up on eBay now and then. (Hey, here is one now.) I sort of wish mine were a brighter color for visibility, but the lilac sure is pretty. Mine is a medium. I usually buy tops in large, but I don't think I would want this any bigger.

[alimey]

Hiya

I just bought the Gore lady alpine - it's made of goretex paclite. Very nice fit - I got the 34 which fits size 4. Very waterproof & breathable & packs down small. Also you can add a hood. Long tail folds down if wanted. But - a bit pricey. Probably Teamestrogen carry it.

[Dianyla]

My favorite light jacket is a few years old by Sugoi, it's a nice lightweight fabric that blocks some wind and breaths really well. When it was new it could stand up to a little bit of rainwater that would just bead up on the surface. As it's gotten older it's not quite as water resistant, but it's not bad. As far as I can tell from the pics, the newer generation of my older jacket is this jacket by Sugoi called the Stealth.

If I had to buy something new now *twist my arm ow!* I'd probably look at the new Sugoi Stealth or the Pearl Izumi Whisper. I have the Whisper Vest in the screaming yellow color which is great for visibility. The fabric is really nice and lightweight but it is soft and quiet, doesn't crinkle or swish. I find the fabric on the Optik to be a little plastic-y feeling and noisy.

[Bikingmomof3]

My favourite is the Showers Pass Elite Jacket: http://www.teamestrogen.com/products.asp?pID=17125

I have already worn it several times biking and more recently running. For running it drives me crazy, not the style-which it feels wonderful, but the swoosh, swoosh, swoosh noise.

[BleeckerSt_Girl]

Jennifer, that is one good looking rain jacket!

[Bikingmomof3]

Lisa,
The jacket is so comfortable and it breathes!!! I purchased it based on some other good reviews off TE and have not regretted the purchase.