The Redledge stuff is single layer water proof stuff. It will keep you dry, especially when layered underneath the smock. But it doesn't breathe all that much. Best used when it's pissing down rain, as opposed to windy, drizzly stuff, which is best handled by the smock alone. You're gonna get wet, one way or the other.
It's a step up from just urethane coated stuff, as the material is supposed to breathe somewhat, but like any WP layer, it's gonna be muggy in there. Is also much lighter and packable than old GI urethane stuff (including early PCU L6).
It might be a toss-up for some between PCU or ECWS gen III L6 stuff, and something like the Redledge. The Redledge Thunderlight is certainly lighter, and packs down smaller. Depends on how much it rains in your AO; how hard, how often, etc. If your L6 parka and trou become your go-to layers, as opposed to L5 softshells (or smock), then I might pack them instead.