It was a nice morning and the forecast was pretty positive, so I rode to work. About 3pm the skies opened, about 3:15 the power in the building went out. 3:45 we were released because the power company said they couldn't fix it for a couple hours.
I'm still here waiting for the rain to slow down since sitting in traffic in the rain doesn't appeal to me.
EDIT: By 4:30 the rain had stopped and I had a dry ride home. I should still keep my raingear with me as a matter of principal, especially when I just bought new pants last weekend.