Depends what wet weather you are talking about. This gear at the below link would work ok for most inshore sailing when it rains light to moderate - I have a jacket similar for such purposes and it works ok - the jacket must include a hood. But if it buckets down or you are in wind swept spray inshore or offshore forget it the rain and spray will get into the collar and other areas. For light offshore rain it would be ok but nothing else. For pants note that the rear will be abraded through very quickly on most non skid decks, whether it be this lightweight type gear (so in only a few races if you are a normal agile actively participating crew moving from side to side and fore and aft for manoeuvres and trimming sheets) or gear made for sailing which will last longer but will still wear through if it hasn't got a rear abrasion patch included.

www.seton.net.au/dnc-workwear-lightweight-rain-set.html?utm_source=google_shopping&gclid=EAIaIQobChMI_67I8vG_9AIVWQ4rCh3yngi3EAQYBSABEgJf7_D_BwE#A43417

Yes, I've used an old (but still good) ski jacket here in Tas for the past 6 years. High collar and hood are essential. It's still going strong. I did buy a pair of Musto sailing bib and brace pants though from Whitworths. Best money I've spent in a long while, they're brilliant for our conditions. Where are you Blackwolf, what climate?

All mine comes from the Salvation Army!