Doug,
Your OP is a litte confusing, but it sounds like you want to know either what materials are the most breathable, OR, what highly water resistant materials are the most breathable.
For the former, check out Richard Nisley's many posts here on porosity of materials.
For the latter, check out Alan Dixon's article here on WPB materials. Even though it is an older article, the more recent excellent reviews of rain tops on this site suggest there isn't much since Alan's article that is truly new, with the possible exception of a new GTX offering claimed to be much more breathable that hasn't been fully evaluated yet.
One great thing about this site is that if you are willing to put in some search and evaluation time, there are definite answers to be had. Thanks to the many excellent contributions of the members.