I don't know how often you ride in the rain or what you're limits are as to how cold you're willing to ride in when it's raining, but I've found that as long as I keep my core and hands (feet, too) warm, that I'm happy. I have a PI vest and will layer accordingly. PI thermafleece arm warmers and a short sleeve jersey with this setup takes me down to about 50-55 degrees with rain. A wool base layer and winter long sleeve jersey took me down to <20 degrees. Of course if I had $200 to blow on a good jacket I might think differently but I've honestly been happy with this setup as I'd rather be a little on the cold side than dying due to a jacket not being breathable enough (and then taking said jacket off and being worse off due to being soaked in sweat). JMHO.