I don't know about hunting gear, but for hiking and backpacking your best bet is an unlined Goretex (or other waterproof breathable) shell.  They can get expensive.  My Marmot shell top is probably around $350, pants maybe $200.  Get it unlined because it gives you more flexibility in warmer temperatures.  If its colder you can always put another layer on under it.  Ventilation features like chest zips and armpit zips and velcro wrist cuffs help control your body temp and keep you from sweating when you are active.

For hunting only where you spend most of your time stationary, you could probably go with something lined and without the fancy ventilation.  

wow! well that's super expensive!

i bought my kick ass rain suit at the surplus guy.

jacket, i'm 6'2" and the jacket/poncho comes to my knees. od green in colour. two pass through pockets where normal jacket pockets are. HUGE hood. seriously this hood is big enough to wear with a ATV helmet on. there are drawstrings to draw the hood tight. unlined, made out of a rubbery stuff. but this suit is dry, you might sweat a bit in it so don't wear too many layers. the sleeves have velcro closes. the sleeves hang below my hand without the velcro stuff done up.

pants. -----od green in colour. drawstring waist. drastring at the bottom so you can blouse them over your boots. two pass through pockts where normal front pockets would be. no back pockets.

jacket--$25 can
pants---$15 can.

i bought the pants and jacket purposly huge so they'd be comfortable for wheeling. but they don't feel as big as i thought they would. man, the last you want is a tight rainsuit, letme tell you...

that stuff is canadian army issue. itf there's one thing we know about in canada (actually there's lots of things [:)]) it's poopy weather!

lots of luck, this suit rules.

OffRoad

I've got Gortex but can no longer remember what I paid.  If you are going to be active, then something breathable is the way to go.

Check out these sites, especially if they have a clearance/outlet section, and for sales:

Sierra Trading post
Sportsman's Guide
L.L. Bean
Cabelas
Bass Pro Shop
Woolrich
REI
Brigade Quartermasters
U.S. Cavalry

If you're near any type of Army or other service base, go check out the pawn shops.  

Do an internet search for army surplus outlets,
may hit a good price.

You'll find different weights, styles, colors, camo, etc.  The better ones will usually have extras like zippered vents in the armpits, full length zippers on the legs, etc.  

Some of the top commercial brands are Helly Hanson, North Face, Marmot, etc.

My woods suit is a Surplus ECWS woodland camo and does a good job.

The other is a North Face in a lighter wt. goretex, red and black, for skiing, football games, everyday type use, etc.