These walking raincoats or ponchos are generally very good. The key factor seems to be ventilation.
Does it have armpit zippers, or a back vent to allow perspiration to escape?
Once you are fully "waterproofed," perspiration will tend to soak you through. It can even get into your rucksack. A separate posting addressed the need to line your rucksack or use smaller waterproof bags (Ziplocks) to protect and organize your gear against any water infiltration to the rucksack.
The only other issue I have encountered walking with a Ferrino walking raincoat, which is very similar to this one, is that my lower trousers usually got soaked from the knees down. Some pilgrims use gaiters to offset this. However, I opt to forego the added weight of the gaiters, and recommend wearing 100 % nylon or other fast drying synthetic, zip-off bottom trousers.
When you reach your destination, simply zip off the lower legs, hand wash them to remove the mud that WILL be on them, then roll and stomp them dry on a towel and hang to dry. My lower trousers dry this way, dry enough to be reattached and worn, in about 60-90 minutes even on a rainy, damp day.
I hope this helps.