I think you can get all three if you are willing to break the bank. I've opted for the breathable and light and compact option, the Montane Featherlite. Ive also got a second jacket which claims to be breathable but whilst its OK its not 100%b breathable, the Endura Pack light, its extremely waterproof and lightweight/packable but I prefer the cheaper Montane and if the weather is extremely bad I wear a gilet/ winter jesey/softshell underneath and have no problem with warmth and waterproofness.