Some of those 50/50 replies depend on how the reviewer defines "wet" and "dry." With good rain gear, I've found that it all keeps me "dry" in the sense that it doesn't let rain in through the fabric. (All rain gear will let water in at the edges: cuffs, where hood seals, or doesn't seal, around your face and neck, etc. The cuffs can "leak" if you're using trekking poles, and you hands are higher than your elbows, letting water drain off your hands down your arms.) But the fabric panels do a great job of keeping water out.

Unfortunately, if you're walking, those fabric panels also do a great job of keeping water (aka "sweat") in. Many reviewers who complain of being wet in spite of the raingear are, in fact, wet when they take it off because it can't pass sweat out as fast as your body generates it. Also, in a heavy rain, the water on the outside of the fabric drastically reduces the ability of "breathable" fabric to pass water out because it blocks the "holes." That's not the raingear's fault. I've experienced that effect, too, and you're just as wet, but it's not because your raingear leaked. The only solution is to slow down your pace, so you don't actively sweat. Sometimes it works, sometimes not so much. In a heavy rain in July, you can't even stand still and keep from sweating.

There is no perfect raingear. I do know that, so far, my Outdoor Research Foray has performed better than any other I've used - it doesn't mean I'm bone-dry after walking in the rain, but I'm much less damp that with anything else I've used. (And I have used the Precip. I don't recall any leakage, but I know that perspiration didn't pass outward nearly as well as it does in the Foray.)