To tell you the truth I've yet to find bike rain gear that really works. I rarely ride longer than an hour and a half, and in light rain I do best with softshell/ windstopper stuff, like a tightfitting longsleeved wicking layer plus a wind vest. I generate enough heat to keep me warm, and enough sweat that it's a bit pointless to trap it all inside for the sake of keeping "dry". Wool next to skin is key to keeping comfortable in cool wet weather.
In heavy rain or very cold rain there's a point to keeping the rain off your body. I've had a Showers Pass jacket that was pretty good, mainly because of the awesome humongous vent on the back. Good rain jackets have to have lots of vents. Rain pants... the ones that are flexible leak, the ones that are waterproof and solid drag over the knees... best so far are a pair of old rain pants I cut up and made into rain shorts hitting just below the knee. But my feet get soaked.
The long-distance riders may have better tips, this is from the pov of a daily commuter.
Winter riding is much less about badassery and much more about bundle-uppery. - malkin
1995 Kona Cinder Cone commuterFrankenbike/Selle Italia SLR Lady Gel Flow
2008 white Nakamura Summit Custom mtb/Terry Falcon X
2000 Schwinn Fastback Comp road bike/Specialized Jett