A textile jacket with removable waterproof liner and thermal layer works best for variable weather. Look for Gore-Tex or similar membranes (Alpinestars, Rev'It, Dainese). The Alpinestars Andes V3 Drystar ($400) and RST Pro Series Adventure-X ($350) offer excellent all-weather protection.
For versatile riding, textile wins - waterproof, better ventilation, and easier to layer. Leather offers superior abrasion resistance and style but struggles in rain. Many riders own both: textile for commuting and touring, leather for summer and track days.
While not legally required in most US states, CE armor is essential for safety. Look for CE Level 1 minimum (shoulders, elbows, back). Level 2 offers better impact absorption. Many jackets come with basic armor - consider upgrading to D3O or Forcefield for superior protection.