I also have a raincoat/poncho which is very similar to the
Altus/Ferrino. It comes down to my calves so I was intending like you, to wear gaiters to protect against rain/mud. I didn't want to take rain pants due to the weight and having to put on an extra layer over my pant, especially as I perspire a lot.
I'm a bit of a gear nut so I may have a solution for you that will do away with the gaiters although it will require some extra expense and effort!
I went to a clothing alteration place and had them cut the bottom half off an old pair of Columbia rain pants and sew on the matching zip from a (coincidentally) Columbia convertible pant. In inclement weather, I zip on the rain pant bottoms and am protected from the knees down. The rain pant has side zips and Velcro fasteners so I can put them on over the boot and they provide a good fit around the boot top. I find they're also more comfortable than calf gaiters as they are part of the pant leg and don't cinch around the top of the calf.
I did have to buy two pairs of the convertible pant and sacrifice the bottom legs of one pair, but for me it was worth it. The second pair is my change of clothes so it is not wasted and either pair of bottom legs, rain or normal, are interchangeable between the uppers.
So far the downsides I've noticed are that the rain bottoms have a slightly clammy feeling and they look a bit strange as the tops are sand coloured and the rain bottoms are navy blue :shock: When wearing the raincoat, it just looks like I'm wearing full length rain pants.
Clearly this is not for everyone but it works for me as I had the unused rain pant available and I only needed rain/mud protection from the knees down.