In reply to splat2million:
Bivvy bags are great for keeping the wind off and giving your bag a bit of extra warmth but I wouldn't use one in the rain unless I could keep the outer reasonably dry somehow. The price/weight of the more waterproof/breathable-ish bags make them not worth it to me as well as I'm more likely to use it in the dry so a waterproof one would inconvenience me 90% of the time and maybe make the difference between being wet and being soaked on the rare occasions it has rain use.
I think the best way to go is a lightweight highly breathable but not so waterproof fabric, I've got a terra nova one which will throw a shower but is really breathable. My friend has the Rab storm though and it's been fine breathable wise in dry weather and works well in the cold.
If you can't get shelter under trees or in buildings then try staking your jacket over your top half and putting your feet in your rucksack, this'll help prevent the outside of your bag from wetting out and ceasing to breath and it'll also keep your face from getting wet while your asleep (you need to have your head completely out of the bag). You could also take a small section of groundsheet or maybe make something from an old tent to cover your body a bit but like gethin says once the weight starts adding up you'd be better with a one man tent, which will only set you back £30-40 and will be much more suitable for wet weather.
Try testing it in the bath and if it leaks through send it back to RAB.
Post edited at 13:25