I snagged one of the fabled Teva eVent jackets for $40 a couple years back, that has been nice in wet especially during vigorous hikes, but they do let through a bit more wind than other rain jackets. Its nice and a helluva bargain, but I couldn't stomach an equivalent eVent for $289. I just bought two Marmot Precip jackets off of rei-outlet for $49.93 each, they have a reputation for being a good middle of the road rain jacket without the cost of an eVent or Goretex or other exotic fabrics. I see the price is up to $64.93 now, but keep your eyes open, you can usually find last year's Precips for sale for $50 or less. (I won't be hiking in these, probably standing in rain or maybe filling sand bags, one Precip goes in my car, the other in an BOB as I usually leave my Teva in my hiking gear).