There is no jacket that fits for all purposes. These are the jackets I use next to my rain jacket, each one being used for a different purpose.
Down jackets have two excellent properties. They are very very lightweight but have the best thermal performance. The Haglöfs Essens III Down Hood is the warmest jacket I have with me and I exclusively use it as an insulation layer when being off the bike.
This is the jacket I mainly use when cycling. My Mammut Softshell Gore-Tex Jacket is very breathable, pretty robust and the jacket protects me against cold winds so as light rain.
As a midlayer I’m using a Houdini Power Houdi Fleece Jacket to wear over my baselayers and under the softshell or rain jacket when cycling. This is one of the thickest, warmest and most robust fleece jackets when cycling through really cold areas.