I've got a Land's End gore tex jacket. Has a stowable hood, pockets, and a full front zip. It's not insulated, but it's a bit warm. I'm comfortable in it in a summer thunderstorm, but I'm easily chilled. If I were usually too warm, I wouldn't like it as well.
When it's 50F out and doing a downpour, the insulating behavior of this jacket is great. I can pair it with a thin wool sweater and be comfortable, even off the bike.
Cost was around $40.



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Here's the yellow version: 
OK, must be honest, since changing my pedals to DMR's I have had to wear trainers.