I haven't ridden in the rain (yet), but I'd imagine it'd be pretty scary!
I try to ride as often as I can because WI weather gives us about 2 months of riding time total. And the potholes around here are notorious, but I've already memorized them all from driving in my car. The only times I've had to call off a ride is when it was really HOT outside, like 90 degrees with almost 90% humidity. Even with my vented jacket, it was intolerable to ride in traffic. And also when I've only had a few hours of sleep, I decide to take the car because I don't trust reflexes that early in the morning. Every other time, I'll take the bike over the car, saves on gas as well!