I cannot stand Rain mode on my much more powerful bike.
Fortunately I can split out the traction and throttle options so have just setup my own "custom mode" for when it's really a **** show.
But generally even when wet I have it on full power mode.
As for ABS...I simply assumed the Honda has ABS across the range by now, that is a major oversight if it's still just on the DCT model.
****
FYI you can't really "limit" slip. If it's going to happen it's going to happen and it will really just change how quickly it responds to that slip.
Bikes being bikes it's not quite the same magic as on cars.
But in an argument of Bike with ABS + TCS over a bike with none it certainly wins, but on a bike that has it any way with different levels? I still call it a crock of ****.
Rain mode is more of a placebo effect (and sure it does work in that capacity) and not much else really. As for throttle it makes for a terrible experience.
The last thing you want in rain which is daunting in and of itself is a bike that behaves COMPLETELY DIFFERENTLY than it does the rest of the time, which is why I don't use it.
what do you ride?
I've got a KTM 1290 super adv and it allows varying degrees of 'slip' depending on the street/sport/rain/off road modes, apart from cutting the 160HP down to 100HP depending on the settings - the throttle is also much less aggressive on the more cautious options
I've been riding bikes for many years and consider myself fairly skilled at riding, but switch to rain/off road mode when needed