I live in a desert where it rarely rains (88 days without rain until last Friday). However, we do travel to places where it rains.
Several years ago we were going on a spring trip to Europe, so I ordered a London Fog with a zip out liner. I felt very unfab in it. I returned it, and it ended up raining only one day on our trip.
I eventually bought a Patagonia shell with zip out liner and hood. I took it on a winter trip and it was very waterproof but not warm enough for the damp freezing weather without lots of layers. But it is sleeker looking than the trench, plus it's functional. A raincoat that isn't waterproof is useless in my book.