Overall I'm happy with it, though a little annoyed that the price has gone down by $7 since I bought it.....
Based on other reviews, I ordered a larger size than I usually do (L instead of M) and I'm glad I did. The medium would have fit-ish, but the sleeves would have been a bit short and I wouldn't have been able to have layers on underneath.
It's definitely not "water-proof", but it is "water-resistant" and it does dry quickly. The color is very close to what is shown, maybe slightly darker/deeper (I got the army green).