[XSportsSusan]

I'm on my second 02 jacket and have found them to be completely waterproof and fairly breathable. I agree--if a jacket is totally breathable, it's not going to be waterproof. I find I don't sweat too much in the 02, and I wear it for running as well as biking. It's surprisingly warm. The only downside is that the fabric is a bit papery, which means it can rip easily.

 

[Miker J]

Second, or third, the notion that no such animal exists.

A breathable, sleeveless, shell on top of puffy fleece, or wool sweater, with a thin wool base is my favorite.

Pants, for years I've used Campmor fleece pants with the pockets cut out and sewn over. Back when they cost about $20, and can be used for just about anything... Biking, thick long underwear for hunting, cold weather running pants,... They are like tights but are not really tight, breath well and don't look nearly as silly.