If you had to own one jacket...
Where do I start..
There are more waterproof jackets, there are jackets with better insulation and wicking properties, and there are jackets that scream "I have more money than sense". The Vapor on the other hand is just a great buy. It's a fully seam sealed (welded) jacket, with all the basic features you would ever need. I have worn it in moderate rain on hikes, teleing in wet heavy snow, and as my first choice on cold windy days to take the dogs out; but I also appreciate it's limitations.
With a waterproof rating of 800ml it may 'leak' some with a heavy pack on your back or push water through when falling on wet snow, and with its high breathability you can feel the wind when it hits the 30-50mh range. But this also means if you won't stay wet under it for long, or feel like you've zipped into a sauna on warmer days.
The Vapor is a true soft-shell; you should still have a wicking and mid-layer as needed and understand that pressure will still force some water through. However it won't ever have a that crunchy plastic bag feel in icy conditions and you don't have to treat it with the kid gloves that most stretched Teflon requires.
Conclusion: The Vapor is a well priced waterproof softshell, perfectly suited for 4-season Colorado weather.