The reason most good rain gear is thought to leak is that the seams are, almost always, sealed poorly. Get some seam sealer and go over all the seams and make sure they are solidly covered. You won't have a problem.
The other problem is that most people don't realize the rain is coming in the collar so you have pay solid attention to make sure that's sealed up so water doesn't run down through the collar.
Any of the new materials breathe super well - eVent, NeoShell etc... - there's a number of them. I have two jackets and rain pants that work super well, I don't overheat, I don't get sweaty and I don't get wet. I have a
Double Century jacket from Shower's Pass that's made out of eVent and I have a custom jacket from
Lou Binik at Foxwear.net. Lou also made my rain pants. Most of the stuff he makes is really awesome, it's made super well and it's generally cheaper than pro-form discount on major brands. Best deal going IMHO. You get exactly what you want. You get it fast and you beat even the pro discounts of the kind of brands you'd want to buy otherwise.
You can do the research on the various materials to find out the waterproofness of the material which is measured as a pressure of a water column the specified height that the material can withstand. 5000mm is pretty poor waterproofing. 15,000mm is pretty serious waterproofing and may not be breathable. Good stuff runs in the 10,000mm range.
We did a tour in Norway a couple of years ago in two parts - a self-guided part and a self supported part. One day it was a drenching nonstop thunderstorm for 5 hours - to the point I was wondering if the Norwegians were going to be bringing animals two by two down to a big ship somewhere. I had on my Foxwear rain pants and my Showers Pass jacket - I stayed bone dry through 4 hours of solid cycling in pouring rain. Worked great. Then a week later we were riding down the
Rallervegen in Norway and we were in an all day drizzly rain. I had my Foxwear Neoshell jacket and rain pants - again, stayed completely dry and non sweaty. Both of these jackets are so lightweight (but rugged) that I can roll them up and carry them in a jersey pocket but they're also rugged and will take anything I can dish out while I'm bike touring.
But, I'll also say this - for both of the jackets and the rain pants. I put on a cotton t-shirt (really shows the water leaks) and then both jackets on separately and stood out in a good solid midwest downpour and discovered where the seams were leaky (the neighbors thought I was nuts until I explained what I was doing). The Showers Pass jacket was probably the best I've ever seen out of a factory jacket but I still needed to touch up a couple of spots. Lou had sealed my seams well but being the paranoid guy I am, I went over them all again. Zero leaks and I highly recommend his jackets and Neoshell.
I usually put on those neoprene toe thingie's over my cycling shoes and just live with wet but warm feet but I'm going to investigate
the waterproof socks and see if that's not a better solution.