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lol... If you want a waterproof layer on top of your PTjacket, you should get the rapha rain jacket instead (as per rapha's own recommendation in the PTjackets description). The rain jacket is more relaxed fit.
Or, screw the jacket and just buy the softshell baselayer... you will get wet no matter what (either from inside or outside the jacket), at least you'll stay comfortably warm :)
The PTjacket has some give to it, so it will stretch to fit your body.
The Race cape will not be as forgiving, and unless you are sizing UP the race cape, it will not fit over your PTjacket.
I own both, PTjacket in Small and was able to fit a Race cape in Medium over it. Now I have a Small race cape, and it no longer fits over the PTjacket.