I carry my fix a flat can... and some tools just to be safe. I have my rain gear ( just a rarely used cheap suit http://www.motorcyclehouse.com/motorcycle-rain-gear.htm ) stored away in the saddlebags, so it's not a big deal whenever it rains. It doesn't rain too very often either... so it's not a big deal... if anything, i have saddlebags so i can take my gear off when it gets too hot .. http://www.vikingbags.com/motorcycle-hard-saddlebags.htm

For about 30 years kept a K-Mart, blue light special, vinyl, rain suit under the seat and it did just fine until I had to spend most of 3 days in it.
Was just as effective at keeping the sweat in as keeping the rain out.
Got home and the dog who usually knocked me on my ass when I came home sniffed me 3 times then went to the far corner of the patio and threw herself down in a huff, facing away from me

Have Frog-Togs now, seem pretty good but have not had to spend much time in them.

Frogg Toggs-(there are several models to choose from), neoprene balaclava, waterproof leather gauntlets & a pair of insulated & waterproof Alpinestar boots are all on board somewhere...then there's my Cold weather gear.

Had a cheap rain suit I got from Bass Pro, lasted exactly one time.

Now have Frogg Toggs haven't used them yet.

I got my bigger bike and since I had saddlebags on it. I figured I should get some rain gear and still have not used it. LOL

I broke down in 2012 and finally bought the HD 2 piece suit. I have used it a lot since then and not just in the rain. Jacket works well as a light windbreaker also or when it is cold, over my leathers. I still have no complaints, although a 2 hour long heavy rain will get through it now.

frog togs are great for the rain and over the leathers to keep warm. I have slept on the ground with frog togs over my leathers. I kept warm

If its pouring I find a place to park if its just a shower I ride thur get soaked then air dry by the time you stop dig out your frog togs at the bottom of your saddle bags your soaked anyway should've just rode on !

Six of one, half dozen of the other. Personally, I like my rain gear. Eg., Kalamazoo over to Chicago & up to Eagle River WI; light to medium showers the whole ride, I suited up & what could have been a crappy day on the road turned out to be a really nice ride for me.
YMMV