I just bought myself my Xmas present from my wife this past Saturday and it was the best all-around rainsuit I know of. I hunt and fish a lot and a great rain suit is almost a necessity when you are a diehard tournament fisherman. Once you get wet. the day is miserable and ruined.
The rain suit I bought was Bass Pro Shop's 100MPH GoreTex. It consists of a pair of bib overalls, a long Parka and a wind proof zip out liner that doubles as a jacket. This is all superheavy close knit Nylon with a full GoreTex liner, and all joints and contact points are double layered. $570.00 for the set. You cannot beat GoreTex for rainwear. The main drawback is the bulk of really good rainwear
The only thing that is comparable in terms of waterproofing would be a pair of neoprene waders and a good duck hunting parka.
I know there are some excellent motorcycle raisuits, but all of the good ones I have seen make a $570 rainsuit look cheap.
However, I recently bought an all-weather parka that's supposedly rain proof that was on a final clearance sale for $59; I am looking for a set of bib overalls to go with it. I may not get a color or style match, but I might put together a very good MC rainsuit for under $150.