I live in SW Washington so after a certain point in October, "not hunting in the rain" means "not hunting." The early archery seasons in September are usually pretty dry, but I sometimes pull a multi-season tag and instead of fooling with my muzzleloader (which I really don't like) I'll just keep hunting with a bow, and have even been known to hunt with a bow during modern season. By the time late archery season rolls around, rain is a guarantee.
I've had good luck with Bohning Feather-Dri. I go outside, pour some in a plastic bag, stick the ends of the shafts in, and shake it around. But once it really starts to pour, I use a Palmer Bow Mate to carry my arrows.