+1 on ponchos.
I've got my old US Army one, and it does really well. I like the fact that I can snap it together lengthwise (making a tube) and crawl in for an emergency shelter if need be. Being a hiker, the $0.99 ones make me uneasy because I've seen them shred too many times when people are going through brush.
I too have found rain suits to be just too warm. In winter or serious weather they're better, but for hiking in decent weather, the poncho is the way to go, and it'll cover your gear as well as you.
Good reminders on safety with sharps. Thanks for the post.
HJ