For cold weather gear, I suggest you buy a quality set of coveralls for the exterior, and then use things like heavyweight fleece shirts/pants with synthetic base layers underneath. You'll save boatloads of money doing that, instead of going and buying "camo everything" that won't even see the light of day.
As far as lighter weight clothing and weather-proof options go...
I bought some camo breathable rain gear about 7 years back, and I have worn it as a lightweight outer layer quite a lot. The stuff I bought was Squaltex by Redhead. It's reasonably priced and has good reviews. If you ever go to a Bass Pro outlet store like the one in Branson, you can sometimes get it for 50% off.
I'll say this - it's reasonably light, but due to the tight weave of the fabric to achieve water repellancy, it's heavier than a regular garment exterior. It's not "water proof" in the sense that you could create a raft out of it, but it will keep you dry while walking around in the rain. I wear it a lot when walking through areas with dew, or if it rained the previous night, and it's great for that. Water will seep into the fabric over time if you (for example) left your elbow submerged in water while duck hunting. As far as being water proof/resistant, I'd rate it a 7/10 after 7 years down the road - it was a little better brand-new. The fabric is quiet, but not the best stuff to wear when walking in briers or where burrs will catch on your clothes, since the material is soft.
One other product I've grown to like are the Redhead Silent-Hide pants. They are synthetic fiber with lots of pockets, and have a nice feel to them. They are great for the early season and could be used during turkey season. The best parts about them are the fit and the number of pockets. By using these pants, I was able to completely avoid carrying a day pack around for a day-long hunt (although my pockets were a bit full!!). I wish more clothing manufacturers would employ the use of cargo pockets, because it makes a huge difference when using a climbing stand and not requiring a pack to carry along with you.
The downside to them is they aren't very warm, and I still don't have an equivalent cold-weather option. I tried wearing some fleece underneath them, but they just don't block the wind well enough to function as a good shell, so once it gets down to freezing-ish weather, I change wardrobe.