two buddies and I did a blue ridge parkway ride. We all have the Caliber pants. They are waterproof so we didn't stop when it started raining. All three pair leaked in the crotch.
The next day I wore my frogg toggs inside the pants because they weren't yet dry.
I don't let the weather stop me from riding. It does slow me down though.
My cold and wet weather gear consists of:
Boots:
Teknic touring boots with dry-star membrane
TCX Infinity Gore-tex boots
Gloves:
Alpinestars Jet Gore-tex gloves
Tourmaster Polar-tex gloves
Tourmaster Synergy all leather heated gloves
Jackets:
To many to mention them all, but the tourmaster Flex probably gets the most cold weather use since it is very cold in the mornings and only cool in the afternoons.
Northface Gore-tex mountain jacket and pants serve as rain gear.
Pants:
Tourmaster Caliber Pants
Leather Chaps for the cruisers because exhaust will melt plastic pants.
Heated Liners:
Tourmaster Synergy heated vest liner with collar
Tourmaster Synergy heated jacket liner.
Misc:
Balaclava purchased from a ski shop. It has a harder foam piece that goes over the mouth so it doesn't put pressure on your lips.
Several different weight neck gaiters
Some of the Cold out gear from cycle gear
Thick hunting socks
For all day downpours I also have overboots, overgloves, and reflective vest. Even though the gore-tex keeps you dry, if the outside material gets wet the cold created by the wind will suck the heat out of you.