The SO and I both have savannah IIs but we just got them last fall...not a lot of time in them, but we did go to MN from MI via the UP in Nov for a week long mtg I had there. We use gerbings heated liners underneath the jacket.
For rain gear, we got the SO the first gear (I think it is) pants and coat, both gortex from BMW Detroit, they usually have a nice selection of stuff but no beemer clothing...200 bucks for the pair.
I don't much care about wet legs unless its cold and a long ride so I just use the darien pants I have, good enuff.
But, I bought the same rain jacket, non-gortex for 75 bucks. Its compact, I even use carry it for daily use when the weather gets ruff. And it is designed for motorbiking all the way around.
There is no catch-all gear that isn't going to make you uncomfortable at some point (I came to realize after a couple of trys with different gear).
I don't think you can do much better for packing, wind protection and a walk-around jkt if you go this route with the outer shell. Easy to keep on the bike for emergencies, like a cold wind you didn't expect.