For a true waterproofness and breathability, while being active, you want to get a triple-ply Goretex hardshell, or a Goretex alternative like HyVent, Dry.Q, NeoShell, etc. Lots of the big brands have their own alternatives to Goretex, that Northface Triclimate jacket for example has a HyVent Shell.
What you really want to do however is learn how to layer your jackets. That 3 in 1 is nothing more than fancy branding to sell people multiple jackets in one package. Sure you get some extra zippers for the convenience of taking your two jackets on and off as though they are one, but in my experience you're always left with a cold spot right down the front where where your insulating layer is zipped to the outer layer instead of to itself. It's warmer to put on the insulating layer, zip it up, then pull on the outer layer and zip it separately. Two times zipped (or three or four, I wear about seven layers when it gets really cold out). This is layering.
Layering gives you the freedom you need to customize your insulation and breathability depending on the temperature and your level of activity. Since you mentioned that you want to use this jacket for cycling, you're really going to want to have more options than just, HyVent shell, or PrimaLoft jacket, or both. There will be cold dry days where you're going to be like, "I really wish I had a nice soft shell layer in my system so I could have some extra breathability but still stop the wind..."
Examples of Layering:
When hanging out in the cold: (like at basecamp in winter, -20°C or colder)
- Base layer (polyester/wool long underwear)
- Long sleeve Shirt
- 1 or 2 Fleece Jackets (or combo of sweater/jacket)
- Down jacket
- 3Ply Goretex Hardshell (depending on conditions or what I'm doing I may wear this over or under my down jacket. Over if it's snowing, under if I want my jacket to loft a bit more.)
- Base Layer (Long Underwear)
- 1 or 2 Mid Layers (Fleece/wool pants, varying thicknesses)
- Softshell pants
- Waterproof pants
- Long sleeved cycling jersey, or warm short sleeve jersey with arm warmers.
- Insulated cycling shirt (I'll often wear nothing more than this much after I'm warmed up on not-so cold days like -5°C, or -15°C on calm sunny days)
- Fleece Jacket (to start off with or when it's really cold, usually comes off as soon as I warm up)
- Cycling vest (cuts the wind to your core)
- Softshell or long sleeve windstopper (to cut the breeze completely)
- 3Ply Goretex Hardshell (for when it's precipitating)
- Cycling shorts
- Leg Warmers or Insulated Cycling pants
- Fleece pants (for when it's -30°C or colder)
- Goretex pants (for when it's precipitating)