Waterproof pants for commuting?

I commute to work and it's getting wet here. I live too close to necessitate wearing tights or whatever, but too far to avoid getting soaked.

I'm looking for some gore-tex-ish pants to pull over whatever I wear to work. Articulated knees, velcro ankles, zips on the calves, high-backed waist, waterproof, breathable.

Anyone have any suggestions?

For $25 you can get RainShield pants. Way more breathable than Gore-Tex and they don't wet out. They have no features, though, so you'll need to take a couple binder clips from the supply closet at work to close the lower cuffs so they don't get caught in the chain.

For another $25 you can get their cycling jacket, which has a good long tail to keep the splash off your butt.

I've used both for several years of cycling in the rain. As a bonus, they weigh absolutely nothing, and I use them on all my hiking trips, too. Only drawback is that they do wear out, so you'll need a new jacket every couple of years if you use it a lot.