I have a Showers Pass jacket, similar to the Elite jacket.

http://www.teamestrogen.com/showers-...0-b100094.html

It's not cheap, but it's a great waterproof jacket. Unlike Marni's, mine does not fit well into a jersey pocket, but I have a small handlebar bag that I can keep it in while I ride, if needed.

I wore a similar jacket (different brand but made from the same fabric) during a century ride in heavy rain with temps in the 60s. With a long-sleeve jersey underneath, I was comfortable. I've also worn it with a long-sleeve jersey and a wool base layer on a cloudy day with temps in the high 40s, and felt I would have been more comfortable without the base layer.

I also have a head cover from Showers Pass, though I've never used it. It's like a hood that attaches to the jacket and goes under the helmet.

In terms of when to buy, by now most places have probably sold most of their winter clothing. The sales start earlier in the spring. But it never hurts to look -- you might get lucky.