If name brand is not your main concern then take a good, detailed look at Cabela's Rainy River PacLite Gore-Tex parks and pants. PacLite is Gore's most breathable laminate.
I have both and feel that, for about $80.each, they offer the best value in lightweight rain gear anywhere. Plus the quality, attention to detail and features are amazing for any price. For example, the parka hood drawstrings pass through a captive loop at each end to keep the ends from whipping you in the face in windy conditions. At the rear of the hood is a tethered, toggled drawstring to adjust the hood fit. At the hem are two side, tethered & toggled drawstrings.
No pit zips but the chest slash pockets are lined with mesh so they can breath when unzipped. But if pit zips are a must you can do what I've been doing for years. Take the jacket, with the correct zippers, to a good tailor and, for about $30. you can get them installed. Then seam seal the stitching yourself. I've done it on several Gore-Tex hunting jackets.
The pants have knee-high side zips and the pants can be stored in the zippered hip pocket.
Oh, yeah, Cabela's garantee is exactly like REI's garantee.