A quick preamble.
I have a FF Rock Wren made of Epic and absolutely love that fabric. I have a FF Lark made out of Gore DryLoft and a Volant made from Gore ActiVent. If given the option I would have gotten both of them in Epic.
I wouldn't call waterproof-breathable literally "water-proof". Some sleeping bag shells used to be made with Gore-Tex fabric and manufacturers would recommend seam sealing the bag for "waterproofness". One of the reasons that Gore-Tex use has been largely discontinued (I'd guess that limited breathability is the primary reason) is that owners, understanding the popular definition of the word "waterproof", would have unrealistic expectations of the bags performance…use it in rain or otherwise reckless use in very wet conditions. Waterproof/breathable fabrics have their limits on waterproofness and this can be defined in pounds/sq. inch.
Just a quick parenthetical insertion about FF products and the idea of seam sealing before I continue. FF uses a sewing technique called tuck-stitch baffles. In short, the threads at the seams are not exposed to the environment and so will not wick moisture. The fabrics water repellant treatment will go a good ways in keeping moisture from permeating the seam, but there is still no getting around the lbs/sq in. issue. The seam is more vulnerable entrance via pressure than the fabric.
The eVENT will be more water resistant than the Epic. eVENT (and Gore-Tex and other polytetrafluoroethylene treatments) are membranes that coat the fabric of choice. Epic doesn't have such a barrier. There is space between the threads and this results in a lower lbs/sq. in. threshold as compared to a membrane-based fabric.
As far as durability is concerned, the eVENT has greater durability in terms of the mechanical stresses of wear and tear. It's a heavier fabric that is bolstered by the adhering ePTFE membrane. Aside from carelessness, I cannot imagine a scenario in which a tare or abrasion would occur in a sleeping bag shell undergoing reasonable use. I believe that the durability of the hydrophobic properties of a fabric are a more important consideration.
I've never had a membrane-based fabric that didn't require frequent replenishing of its DWR properties (allows water to run of the fabric literally like "water off a duck's back".) If the bag looses its ability to repel water and water is naturally attracted to it's self, there is no physical reason for it to run off the fabric. If water is not able to run off the material and leave the surface dry than it is simply another layer that gaseous H2O must be driven through–a phenomenon heavily dependent on body heat.
In theory this should not be an issue with Epic fabric where each thread is given a silicone-like coating prior to being woven into a fabric. (Per my last conversation with FF, the true extent of this durability is not known due to the newness of this fabric and lack of long-term reports). The hydrophobic nature of Epic is amazing. Whenever I show off my bag I get at least a quart of water, hold the bag up at an angle and pour. All the water is shed perfectly. This prevents the water layer issue, facilitating better breathability.
So two issues with breathability. A membrane barrier and compromised DWR are hindrances. Epic has neither of these.
Like others who visit this site I have a lot of respect for Ryan Jordan and other contributors that give close examination to all gear weight and performance issues. However, I cannot understand any scenario, including temperature range, in which a membrane-based fabric is more breathable than one without a membrane. The membrane is a barrier, an impedance to liquid H2O entry and gaseous H2O exit. (I am not overlooking the claims that the membrane pores are much larger than a H2O molecule. I freeway has no stoplights but given enough cars traffic flow will slow.) Which fabric will have more and larger escape routes for gaseous H2O? Epic. Let me add that I would enjoy hearing opposing views and am not opposed to changing my position given enough evidence….I enjoy a good discussion.
I think there are good arguments for using fabrics with greater breathability when the precipitation encountered is frozen and using a garment with greater water resistance in cases of liquid precipitate.
With regards to the plan of wearing an eVENT jacket over a waterproof/breathable shell I could see some problem if this were done for extended periods. Water remains in the gaseous state as a result of heat. It's already taking a certain amount of heat to keep the H2O gaseous to make it through your shell layer. Than it enters your down insulating layer and hits the cold outer fabric. Is there still going to be enough heat to maintain the H2O in the gaseous state that is necessary to permeate the pores? I think this would be sketchy even with the Epic jacket.
No matter what you choose you’ll love your Volant.