I've got rain pants already, the classic O2 rainwear model. I'm far more tolerant of wet legs than wet torso (and far more tolerant of sweaty legs than sweaty torso), on the pants I just wanted something lightweight for when it really got bad/cold. I've also got a Sugoi helmet cover, to replace sharing a shower cap between my seat and my helmet
I have looked at the Stratos, it looked like a nice coat. If the fiancee decides she isn't using the regular 20% off coupon (I really need to get my own card...), as she has decided with the Garage coupon, that may be an option.
As far as 2/3-layer, I'm still back and forth, but leaning 3, part of the reason I haven't completely decided on the Precip.