Breathable fabrics aren't breathable when they're wet. So if it is raining, you will get wet either from the inside or from the outside. I have pretty much stopped riding with "waterproof/breathable" gear altogether (I commute year-round in Vancouver - so I know what rain is). I just wear enough to stay warm, even once I am wet. I don't really care about being wet (washes right off), but I don't like overheating and becoming uncomfortably sweaty.