As an update, I'll be living/studying at Oxford for all of next school year, starting in October, so I figure that I'll need a pretty good raincoat. So I'll be on campus with all of the English rain and I figure I'll need something that will keep me warm and keep me dry while still staying stylish at the same time. Thanks for all the input. Any other answers would be greatly appreciated as well.

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I have been using the REI Shuksan eVent Jacket for some time now and I am truly impressed. eVent is a membrane similar to GoreTex, but it is 4x times more breathable and just as waterproof. I biked home from work last week (11 miles) in the middle of a storm. It was 80 degrees and pouring hard. I had just the Shuksan and a T-shirt on and stayed dry, and didn't overheat.

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I'm with David on this one. Eddie Baur WeatherEdge offers a great yet lightweight shell. I've been wearing the Port Townsend Parka and have had no complaints. It's versatile as far looks so you can wear it to work or out on a rainy night.

Eddie Baur Port Townsend Parka ($80)

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