I've got a set of Cabela's MT050 Gore-Tex. Both the jacket and pants roll up and store in themselves. If it's raining in the morning, I empty out some of the non-essentials out of my vest (and non-waterproof) to lighten the load and the jacket fits over top. I opted for the pants (versus the bibs) so that I can put them on with my boots (the legs unzip high) without having to strip down from the waist up.
If there's a chance of rain in the forecast, then they get stored in the game pouch of my vest and I have a little extra cushion for my back.
I've never had even the slightest damp feeling get through, even in a downpour. The reason that I opted for the MT050 line was that they are offered in tall sizes. Nothing worse then wearing a jacket or pants that are an inch too short when there's water running down you!