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Oh yes, it's true, it's here — the original lightweight 100% waterproof all-season jacket you knew and loved as a kid. And yes, it still has the pouch with the elastic belt attached, so you can just scrunch-it-up, stuff-it-in & snap-it-on as soon as the sun comes out. It also still has the drawstrings around the hood and waist, and it's still nice and breathable thanks to the aeration opening at the back.
The only difference these days is that the K-Way is now available in a wider array of awesome colours. Other than that, it's hard to improve upon a classic.