Chris and I both use Sugoi Resistor booties and love them. We ride right through the winter, including in heavy rain at times, and these keep us pretty dry. Neoprene keeps you warm but also can get sopping wet, and also loves to tear when you walk on them.
I have a Burley Rock Point rain jacket (back vent, pit zips). Chris wears a Gill Morph. Both work fine for us. He also uses rain pants on his commutes (17 miles each way) when it's really coming down.
Sugoi booties--http://www.rei.com/product/725342?vcat=REI_SEARCH
Smartwool socks of varying thicknesses (including, when the temp goes below about 35, their mountaineering socks. I really really hate having cold feet. Ditto hands, so I wear some incredibly warm, waterproof gloves, can't remember what kind).
Helmet covers if it's raining steadily. Silk balaclava when it's really cold.
"My predominant feeling is one of gratitude. I have loved and been loved;I have been given much and I have given something in return...Above all, I have been a sentient being, a thinking animal, on this beautiful planet, and that in itself has been an enormous privilege and an adventure." O. Sacks