I’ve got a velez adventure light smock and my experience is mixed. 2 yrs old and I’ve been caught in four torrential downpours (think Lakes on a bad day) and it’s leaked badly twice.
With Paramo you have to be very strict about using Tech wash (or similar) and reproofing. I’ve used all the membrane fabrics and they all work ok without proofing regularly but Paramo is very different.
Having said that it does have a lifetime warranty and when I sent it back after my last soaking they reproofed it and posted it back to me for free, within 5 days, and covered my postage costs.
It’s too hot for biking for me. I prefer a Rab VR lite (not waterproof) or Embers merino top (warm even when wet) with Event shell if the heavens open.
The Velez is still the most comfortable, breatheable waterproof I’ve ever used though, I’m just careful with how I wash it.