"Wow... that's a $300 jacket."

I don't intend any thread drift here, but as an aside, unless you really think that you personally (your metabolism and hiking style) will keep you dry in such a jacket, I'd consider either a cheaper rain jacket with extensive pit/side zips, or a poncho. For me (my style and metabolism), it's hopeless to think of staying really dry when backpacking much in the rain, it's about temperature control (staying warm, but not too warm). A poncho works great for me in doing that.
Brian Lewis