I wore these pants today on the ski hill here in Whistler underneath my normal ski pants just to try them out and see how soggy things got. What I was wearing was:
Bottom: Thin baselayer + cuben pants + WP/B Shell pants (non insulated)
Top: Thin baselayer + FA down vest + eVent Shell Jkt
The conditions were warm (25-33F) and wet (raining or snowing).
The results were definitely interesting. For most of the day I was skiing pretty hard and I felt significantly more damp/clammy on the upper half of my body than the lower. I believe this was because even though I had an eVent shell on, my upper body was generating a lot more moisture than my lower half, so the eVent was falling behind faster than my non-breathable cuben pants were. After skiing for 4 hours, I felt damp on the legs, but not totally soggy. I was definately more dry than I normally am because my WP/B shell pants aren't actually waterproof anymore so on sloppy days like this my legs wind up pretty wet.
What I observed at this point was that being damp while wearing a VBL (vapor barrier layer) is far more comfortable and warm than being damp without a VBL. I was damp, but I wasn't feeling a chill.
At the end of the ski day I had to ride a few chairlifts and then walk 30 minutes home. Over this time period, my upper body dried off pretty well thanks to the eVent, while my lower body was steady at moderately damp. I was pretty happy being damp in the VBL pants…more so than expected.
Based on this experience, I think I am going to be quite comfortable and warm hiking in the rain in these pants. The main thing is not to wear too much stuff underneath that I don't want to get damp. I wash my boxers every evening anyways, so if it's a rainy day I can leave the hiking pants off and just wear boxers + cuben pants. Then once I'm in my tent or the rain has stopped I can switch to hiking pants. For shorter wear times (ie. running out for a pee) I can just layer these over whatever I'm wearing.
Henk: Regarding a skirt + chaps versus pants, the main advantages with pants is that they are simpler (1 piece vs. 3 to keep track of and put on) and they might be more waterproof (ie. perhaps if you're sitting down rain may land on your chaps and roll under your skirt?). The pants are also a bit less weird if that concerns you. The skirt + chaps would definitely breathe way better though. It mostly depends on your goals. A skirt & chaps is likely simpler to make.
Thinking of how well my CT2K.08 stuff sacks have faired, I would say you'd likely get a season of use at most out of CT2K.08 rain pants. This stuff is strong (ie. you won't get huge tears) but you can get small holes and pin holes fairly easily since the 0.08 mylar is pretty thin.
The 'latest online specs' from Cubic Tech that you are looking at are actually quite old and pre-date the existence of CT3.5K.18 (1.26oz) and CT5K.18 (1.5oz). A lot has happened in the last year. I think they posted that in late '09. You can buy the black 1.26oz stuff from Zpacks like I did. He's out of stock right now but he expects it in mid-late January. The 1.5oz stuff is in stock now. If you don't care about color I would just go with that since it's barely heaver (1.26oz vs. 1.43oz) and it's even stronger. Black is not see-thru though like the other colors are.
http://zpacks.com/materials.shtml