Do you want a rain jacket for the normal Seattle drizzle, or one that handles maybe moderately alright, average at best downpours?
For the former my preference is the Ibex Breakaway/Dash Hybrid/emacs (they keep changing the name). It's spendy, but I'm sure it will be in the Ibex Outlet (
http://www.ibexwear.com) by the spring.
The O2 wear paperish jackets work surprisingly well for when there is an actual downpour. They are $40.
I have a hardly used Burley rain jacket that I'd sell for $60. It's been used about 2 or 3 times. These were the gold standard for bike rain jackets but stopped being made a few years ago when Burley just about went under. Pretty similar to the popular Shower's Pass models out there now, since Shower's Pass just copied the Burley design. It's a mens medium but very roomy on me (5'10", 190lbs). I think it is eVent fabric, but I could go look at the label and see. I paid $150 or more for it.