Personally, I'm not the biggest fan of North Face Gear, but that one does look nice! A very good aspect of that jacket, Jack, is that it's made of Hyvent which for a laminate is extremely breathable. The biggest thing with WPB laminates is to keep it as clean as you possibly can. Dirt, sweat, and oil clog the pores and when that happens, it will no longer breathe effectively. As well, WPB laminates are quite useless once the weather drops only a few degrees below freezing. In conditions like that, wearing WPB laminates can be liked to wrapping your body in saran wrap and expecting it to breathe - it won't. That's why Ventile is quite possibly the most effective cold weather garment out there and is used by the British Antarctic Survey Team. (BAST)
In the rain though, with a good DWR treatment, provided you keep that jacket clean, you'll probably be quite impressed. (I don't think that all of North Face's gear is all bad.)
Adam