I used to have a winter outfit that consisted of a goretex jacket, goretex pants and shoe covers. If it was really wet, a bit would leak through here and there, but I was basically ok riding around over commuting distances, and was always completely dry after 20 minutes or so.
When I lived in Portland, OR, the public transportation was good, so if it was raining hard in the evening, I'd take the bus home and to work the next day, leaving the bike at work.
I've tried the Gore-Tex thing, and honestly prefer to just layer up and stash dry stuff at home and office. I do tend to ride pretty hard (even when commuting), so the problem I have with a really "waterproof" outer shell is that I end up sweating as much moisture out from the inside as is trying to reach me from the outside.
I have a lightweight rain jacket and a pair of "Rain Leg" waterproof chaps which gets me through my 15-minute ride without getting too soaked.
I do agree about the mass transit in Portland in general -- TriMet is fast, cheap, and reliable, in my experience -- but I have to transfer twice in the 4 miles between home and work, so it's not really time-effective.
I used to have a winter outfit that consisted of a goretex jacket, goretex pants and shoe covers. If it was really wet, a bit would leak through here and there, but I was basically ok riding around over commuting distances, and was always completely dry after 20 minutes or so.
When I lived in Portland, OR, the public transportation was good, so if it was raining hard in the evening, I'd take the bus home and to work the next day, leaving the bike at work.