Well the rain coat came just in time yesterday for my first 2 hour ride in the mist. And it turned out I didn't even need it - it cleared up last night while I rode. But I think we have a winner. It breathes really nicely - and I don't have to layer underneath it. My bike is 80% winterized - all I have to do is install the permanent rear fender. I'm using one of those racer blades right now. And one last thing to figure out - gloves. I'm still on the hunt.
Two weeks and I'll be racing my heart out in LA.