Here's my experience. I purchased my car off Ebay and flew to Miami (Land-O-Sunshine) to pick it up. On the plane's way down, the dark clouds came up and it turned from sun to bad in about five minutes. While I was in the airport closing the deal with the seller, outside God decided to drain His bathtub. I handed the check over to the seller, took the keys and hit the road for a 1000 mile drive back home (FL to MS). The AC wasn't working in the car (later traced to the previous owner installing an aftermarket stereo and cutting the auto-climate control temp sensor inside the dash ... duh) so I had no really effective defroster. Luckily, it was Spring in Miami, it was raining hard and heavy, and with the driver's side window cracked I could just manage to keep from suffocating. I left downtown Miami headed for the main vein going North that would let me climb out of the panhandle and when I tried to merge from an on-ramp into traffic ... it was comedy gold of the kind that only Hal Needham could have scripted.
One instant I'm looking over my left shoulder to see if I can merge with traffic. The next instant I'm facing oncoming headlights out my front window. The next instant I'm looking at tail lights receding from me and I realize that I am not only hydroplaning but I am spinning across multiple lanes of traffic and headed for the concrete divider in the median. Now, those of you who don't live in Florida will just have to take my word for it when I say that FDOT does *NOT* play when they install a concrete median divider. Most Nazi heavily fortified bunkers were built to much less tolerance than the FDOT puts into their concrete median dividers ... I think that they are designed to keep stuff like fully loaded semis from doing what I was doing and jumping over to the oncoming lanes of traffic and creating instant Old Testament style pain and suffering.
Anyway, here I was, in a 1991 Z07 Corvette, six speed, not twenty minutes into my ownership, and I was spinning across multiple lanes of traffic, causing native drivers to probably use every single bit of profanity in a multitude of different languages that they could muster. And there was that concrete barrier which looked like it was a hundred feet thick. I knew it would probably stop a fully loaded semi truck ... I could only imagine how much of "bug meets windshield" effects that my plastic American wondercar would endure against same substantial physical barrier. And then I let go of the wheel and the front end spun around, going from about ten after to ten before on the clock (I may have my clockwise and counterclockwise reversed, at that particular instant in time, I was just doing what I could to avoid being the "Mississippi Man Buys Used Vette, Wrecks During Heavy Rain At Rush Hour and Ties Up Six Lanes of Interstate for 8 Hours ... Traffic Backed Up All The Way To Cuba. Fidel Furious." story on the local Miami news channels).
So, I let go of the wheel, the Vette straightened out, I grabbed the wheel, made a gentle adjustment, gave it a little bit of gas, and was on my merry way.
The only casualty that came out of that event was that my driver's seat now has multiple cracks in the leather, the cause of which I believe is the fact that while all of this was happening, my posterior pinched up about three cubic feet of denim, leather, seat cushion material and, as I found out later that night, my wallet. Now I know why they put chains on wallets ... to help you retrieve them after you have an incident similar to mine.
My wallet, unfortunately, did not have a chain on it which made it much harder for me to recover my wallet afterwards.
The '91 Vette had brand new tires on it but I bet they were purchased for their ability to hold a dry road like it was on rails. I'd have to give them a D- when it came to wet weather handling or maybe I just struck a big patch of water and it was just bad timing / fate rather than any fault of the tires or their design. I don't know because I haven't driven in that heavy of a rain since then and you'll pardon me if I'm not really inclined to do so any time soon.
The short is, at least in my Vette, for now, I slow WTFD when it starts to rain (you work out the acronym), especially heavy rain, because that is white knuckle time for me.