My GF has one of the top Summit Series Gore-Tex jackets from TNF-- and it's foolishly nice. She also has a lighter but high end Arc' Gore-Tex jacket (she's used it on the mountain, but it's really a warmer-weather, lighter Gore material), so the NF jacket isn't being compared to a vacuum. It gets used mainly above the treeline in the Alps. Easily as good as any of the best jackets out there, and easily as high quality as the Arc'.
I have had a cheaper HyVent shell (not a winter shell) that I've used for years, bunched up in the tropics, for rainy days around Germany, hiking in moderate temps. It definitely doesn't breath as well as my Gore-Tex winter/skiing shell, but it's waterproof even in the hardest of rains. I've had this model twice, and after 3-5 years, the interior material (I'm guessing the actual HyVent stuff) starts de-laming/peeling in the heck/shoulder area. But I'm crumple the jacket up and jam it into a bag all the time-- I'm not surprised this is happening. And it was cheap.
I also have a HyVent TNF shell pant for skiing. It's pretty bomber, super comfy, and actually has no trouble breathing while never letting in a drop of water. It's only been two seasons, but that's included some rough wear in the Alps/Kashmir and it looks virtually new. Again, this is a cheaper model than some of their higher end stuff.
Their Gore stuff is top of the line. The HyVent seems just as water-tight (I've sat in puddles/water/slush, etc), but definitely doesn't breath as well. I couldn't ski/skin in a HyVent jacket, but for pants it's fine-- notably when there is a substantial vent in the knees.
TNF is one of those brands that covers the gamut, from quality technical gear at the top end, to urban-trendy-style and overpriced, to plain cheap on the low end.