I've got a Traverse jacket and Overland pants. With the jacket, I've had several rides in the rain, including a 3+ hour heavy rain ride. My upper body does not get wet. Jacket yes, me no.
The pants have only seen one rain run, and it was about an hour and a half. It felt like I had water in my privates area, but in fact after inspection when I got home, that area was dry. I had 2 small damp areas around the top of the front vent zippers. That was it. I don't know if the zips were not entirely closed, or if the way the water pools there, some water will get in. I suspect it was the cold temperature of the water sitting in my lap that made me feel like that area was wet.
As for venting, I ride a naked bike-KTM 690-both the jacket and the pants vent well when standing, which is fairly normal for a 690. Jacket still vents well (pit zip vents on Traverse) when sitting, pants-not so much.