Billy Ray said he doesn't like ponchos for four reasons, to which I feel sort of an OCD necessity to reply … :-)
1) You get wet if it's windy (and don't like it flopping around in the wind)
When I use a poncho I use a sort of stretchy cord belt to help keep it in place. It doesn't flap a lot more for me than does, say, a rain skirt.
2) If your scrambling on talus or climbing you step on it or it snags on something.
Acknowledged, and ditto if you're bushwhacking, a poncho isn't the ideal piece of kit. Most of the time I'm not doing that, but certainly we adjust our equipment choices to the specific trip.
3) In brush it snags on things
I think points 2 & 3 are essentially the same thing, no?
4) Never could figure out how to put it on if I'm solo… how could I get it over a pack that's already on my back?
Interesting; never been a problem for me, and in fact, one of the advantages. When I use a poncho I typically carry it in the side mesh of my pack, and (depending on which pack) I can usually reach back and grab it and put it on while I continue to hike.
I think you're talking about not being able to get the back portion to fully cover the back of your backpack. I admit that I've helped others to get their poncho "completely on", and perhaps have even accepted help with this myself, but I've used a poncho plenty of times in solo hiking situations and don't ever recall a serious problem. Maybe it's based on the geometry of pack, poncho, and personal body shape/size, so I'm not discounting your experience (!), just hasn't been a problem for me.
There are, however, issues with a poncho that you didn't mention, so if I may add:
5) Can't easily access stuff on pack straps and waist belt with a poncho on. In particular, I keep my smartphone on a pack strap and am occasionally annoyed if I want to use it as camera or GPS or voice recorder or whatever.
6) No sleeves; this can be a little cold at times. One can buy tyvek sleeves or the sort of sleeve-only thing that bikers wear, but it's sort of a PITA.
7) The shelter conundrum. It can be confusing to decide whether your raingear is adequate shelter for a given trip. This is of course actually a benefit of a poncho: that it can double as a sort of minimal tarp. But it IS pretty minimal. One of the times I love to bring a poncho (or a Gatewood Cape) is trips where I don't expect a lot of wet weather, so I can combine the weight of shelter and rain gear in one item. This can also be good for day hikes as a more credible shelter portion of your "ten-plus essentials".
I also have a Packa; I bought mine from Cedar Tree himself when I was hiking the AT. I live in the PNW, so it seemed to make sense, and I enjoyed it on the AT. But in fact, I don't find myself using it much. I think it's a fantastic piece of gear when conditions call for it, but it's relatively heavy. My other rain gear is lighter. Given that a person typically doesn't intentionally set out to hike in day after day of rain, it doesn't get a lot of use. Maybe if I had a cuben version or something …
Also, the times when I do know that I'll be likely to be in wet weather I often have snow shoes and/or ice axe along, neither of which play well with a Packa (hard to strap those on to the pack …). So while I love the idea, I'm pragmatically less of a fan now than I used to be.
As someone else said, IMO there's no perfect piece of rain (or any other) gear. There are some "pretty darned perfect" options for specific conditions. One excuse some of us use for having so much gear is that it gives us a bigger range of choices to better tune our gear to specific trips. That is of course at least to some degree just an excuse to have more "cool stuff" …