Hey,
Foul weather gear is a bit strange for me. On one hand, being mostly a day sail and fair weather sailor I don't need it very often. On the other hand, when you do need it, it makes a huge difference in your comfort.
A number of years ago I bought my first set of foulies. West Marine was having a big sale on their stuff, so I bought a decent jacket and matching bib type pants. I wore them every so often and they were OK.
This year I did the Around Long Island Regatta and we had close to 12 hours of rain. The pants worked well but the jacket leaked. By the end of the race I was cold, wet, and unhappy. I decided to upgrade my jacket and bought a nice Henri Lloyd jacket on sale for about $150. In the fall I did the Whitebread race on the east end. The race started in the rain, it rained all race, and rained even harder after the race, when we had to move the boat back to a marina over an hour away. I wore the rain gear for close to 8 hours. At the end of the race I was still warm and dry.
So, I don't know what a $1000 jacket will do, but I do know that having good gear is important enough to me that I will spend enough money to have good gear.
Barry