If you keep the wind off you, and the rate of incoming water is low, you don't have to stay dry, but you'll stay warm.
Really, a cycling cap to shield the glasses from water, shoe covers to keep the feet from freezing, some fenders to stop water from kicking up and drowning you, and a jacket is about all the gear you need for that.
When you ride by other cyclists who are journeying into the rain on two wheels with you, more often than not you'll share a grin, as if you were both stealing something.
When you ride your bike to BART in the rain and get on the train all kitted out and sopping wet, it's no longer paranoia, everyone actually is looking at you. No one smiles though, and they don't hold eye contact.
Earthworms are everywhere on the pavement when it rains. Someone should play Taps, it's a massacre.
Little glass pieces are everywhere as well. Flatting in the rain pretty much sucks, but finding a huge covered space to change your flat? Priceless.
When a car goes through a huge puddle next to you while riding in the rain, it's fun and comical instead of annoying like it is normally.
One little desk fan is capable of drying out all of your cycling gear in less than 8 hours just by blowing over it.
When it rains a lot, all the people that can't stand riding in the rain and burn out on the trainer become relatively weaker. That's what I tell myself, anyway.