I've had foam over grips since I got the bike last August, I always find Honda grips a bit narrow.
Once they 'break in' , that is they sort of form the shape of your hand around the grips, they are excellent. Mine were cheap eBay ones and cost less than a Tenner delivered.
Yes, they do get wet when it rains, but with guards on, when the bike is moving they don't soak up much, so little that I've never noticed! When the bike stands, or when getting washed they get quite wet, but being sponge and firm grip and they are god enough to ride with - no wetter than normal grips would be when they are wet.