In reply to naffan:
Paramo is funny stuff. It's not waterproof, but the rate of wicking should exceed the rate that rain will penetrate. However, if you stuck your elbow in a puddle for any length of time the water would penetrate he jacket.
I really like paramo for winter, but I have read more than one report where people have claimed that the system has suddenly failed and allowed water into the clothing, so might be worth a bit of research.