Waiting it out is great if the climate allows that, and personally, it,s what I would prefer to do. Worked fine when I lived in Anchorage, moving to SE Alaska a few years, that idea went bye bye fairly quick.
At this point, at work alone ( run fuel truck), I have FR raingear, spare FR raingear, Grundens for when the not so waterproof raingear is gonna soak through in the first fifteen minutes.
Out in the woods tried a Mtn Hardwear jacket with e-vent, does all right-ish..Wearing a pack is rough on the DWR coating.. Spent a LOT more than I wanted to on Arcteryx Beta AR pants. So far, two years into it, in some fairly nasty weather and terrain, the pants are cooler, more comfortable than the jacket. And have proven to be a LOT tougher than they look. Plan on picking up a Beta AR jacket this fall. Do some snoopin around and find stuff on sale, you can save some bucks.
Downside, besides expensive, is loud. But if the wind is blowing and the rain is comimg down, it ain,t real silent in the woods anyhow.
Did pick up a little First Lite stormlight jacket this summer, light, waay packable, so far, keeeping the water out. Great to throw in a pack.
Most of this stuff costs a lot more than I really want to pay, but living in a rain forest, it pretty much comes down to buying one less bow or one less rifle and actually being able to get outside, rather than waiting, and waiting, and waiting, for the weather to clear up.