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I have to agree with you about 2 hours of rain destroys anything but I guess I still had a glimmer of hope. Being a courier, carrying spare gloves and stuff like that just complicates my day even more. Neoprene gloves seemed to work really well in the worst but once you take them off, takes a bit of time for them to warm up, they stink horribly if you don't wash them every day and they give you raisin fingers.
I'm of the opinion nothing is waterproof after a couple of hours heavy rain (as thoroughly tested on a night ride to the coast a few years back). Carry spare gloves etc, with a plastic bag to put the wet items in.
http://andy-kirkpatrick.com/articles/view/the_truth_about_gloves