I've had a 5.11 Tactical 5-in-1 Jacket for about 4 years now. I think it's a solid jacket and well worth the price. It would have been nice to pay as little as $70, but I paid more than $150 IIRC and I'm happy.
I've used it in many configurations in wind, mist, rain and snow, and have kept dry.
Unfortunately I can't recall what materials are used in the construction of a 5-in-1 Jacket.
For me it's almost always an urban use Jacket, but I've used it on hiking and camping trips as well.
I think the only difference I noticed with the version you linked and the one I bought is that mine came with a safety vest that can be packed in the back storage pocket.
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"Learn survival skills when your life doesn't depend on it."