Many of the folks here can provide you with various places to check out and shop for good gear. One place you might want to look for excellent bargains, lots of pictures and good descriptions is:
Motorcycle Closeouts - Gearing up in 2008
Textile jackets tend to be more versatile, cooler and more flexible than leather....but IMHO, leather looks better. My GF bought a very nice Joe Rocket armored leather jacket from the above-noted seller at a great price. I have several pieces of "FieldSheer" brand outerwear and have gotten them at unbelievably cheap prices from the above seller.
Some leathers are treated for water resistance and can do double duty in rain. Many textile jackets are designed with intrinsic waterproof layers....some removable.
For me, carrying a cheap fold-up rainsuit works great. I hate riding in rain so rarely ever have to use it. But when I do, I pull it over whatever I'm wearing. The beauty of the cheap rainsuit is that you can wear whatever you are most comfy in without worrying about water-proofing.
Whatever you decide on, I think it's very important to get a jacket with armor. Most have armor pockets so you can remove it if you just want to wear it as a regular jacket. This goes for both leather and textile.
Good luck!
B-Rex