It sort of depends on what you call bone dry, but the answer is yes of course you can travel for hours in rain and stay "bone dry" against your skin, but you are gonna spend a lot of money on the right gear, which means the right layer next to your skin that passes perspiration and stays "bone dry", next a mid layer perhaps that passes water vapor easily and which allows for easy air flow if your shells are open, and good shells with pit zips that allow air to vent under you arms in a rain and not leak.

25 years ago we climbed up to Little Yosemite Valley in a rain storm - about half a mile up. I was in a new goretex rainsuit by TNF, and long underwear by patagonia and when we got to camp my skin and the patagonia underwear was completely dry. Its about letting enough air through to carry away moisture while retaining enough heat, BUT your body heat is adequate to dry out your geaar from the inside out if you have the right gear.
Jim