Re: Dri Ducks and Frogg Toggs, i mostly agree, besides potential durability issues, they work pretty well, especially considering their prices. I haven't had any O2 stuff, but i've heard it's a bit more durable than the former two.
One of my next projects involves a cheap, kids Poncho made out of Frogg Toggs like material gotten at Target. It's just big enough to fit like a jacket, but with open sides/underarms (i'll wear an open windjacket underneath it).
I have some light weight and very breathable polyester chiffon material (sort of like imitation silk). I'm going to siliconize it (add EPIC like coating). The chiffon is tougher than it looks, it has a higher tensile strength than the non woven, but thicker polypropylene Frogg Toggs like material. The siliconized poly material is going to go on the outside of the Poncho material. Then, i'm going to take some nylon tulle and put it on the inside of the material.
Then, i'm going to take some thin strips of silnylon (maybe an inch or so wide), and sew all the fabric together through the silnylon, using a longer stitch, on the border of the PP poncho material.
I suspect that this will really increase the durability of the Poncho, at not much weight or decrease in breathability. The nylon tulle plus polyester chiffon material adds up to about 1.3 oz/yd2, with silicone coating on the the latter, maybe another .1 or .2 oz. Either way, it still will be pretty light (as the PP material is pretty light to begin with).
I may also sew some silnylon onto the back so i can use it as a pack cover and wear the poncho over straps, which will prolong the life of the material at the shoulders. It's going to look weird, but i don't care.