Anyone use a poncho for rain gear?

I've been in the army for 9 years as an infantryman, so I've been in the elements ALOT. While I want to just bash on them because I hate ponchos if you have a quality one i can see the being a ok piece of gear. I would avoid military surplus most the ones I've been issued start leaking threw the rubber after about 30 minutes in a good rain.
 
I always have a poncho in my pack for surprise rains. If it it's raining hard or for a long time I wear my rain gear.
 
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