Wow, there is a lot to consider.
I went to the internal trash compactor bag many years ago and this thread is prompting me to recall why. These thoughts/memories come to mind.
I currently make my backpack bags out of uncoated nylon and put my dry stuff in a trash compactor bag inside the pack. The rain simply runs down and over and out and when it stops raining the backpack bag dries out quickly. Coated pack bags eventually get leaks somewhere and those leaks work very well at letting water in but not so well at letting water out. I've had puddles of water gather in the bottom of coated pack bags.
With a pack cover I've also found I can wet things under it with moisture from my own body. I sweat a lot and the humid air from this sweating manages to get under the pack cover and condense on the inside. It isn't a great deal of volume but it quickly shattered my hope that a pack cover would keep my pack bone dry.
Yes, a wet waterproof pack cover will carry some weight. Think how heavy a wet rainfly is when you pack it.
A pack cover itself will eventually leak so it is one more thing to patch and seal.
A wet pack is not that big of a deal in camp, especially if it is uncoated fabric. Things dry quickly to the point of just feeling damp. The pack can be placed under the vestibule, under the sleeping pad at the head or foot or even under the ground cloth/floor if it is wet and, say muddy. Totally soaking wet clothes from rain or sweat(my problem) is more of a concern for me.
My wife uses a poncho (aka pack cover) and an internal trash bag and doesn't sweat much. She is able to maintain a relatively dry micro climate under the poncho, even when it is raining heavily.