Well, the Hydreon unit uses infrared LEDs and sensors and an optical plastic dome to count drops, and somehow also relate size. the single drop counting mode can either send one 100 ms pulse per drop, a pulse in multiples of 100 ms for drop size, or multiple 100 ms pulses per drop.
That's what started this line of thought, and I have a couple of other threads running about it. One in the Hydreon area is about observations made during rain last weekend, and counting drops, to get an idea of how often it clicks in the rain. The other is in the Davis section, regarding using the input on a Davis temp station, the RG-11, and a 3v volt supply and a capacitor and a couple resistors to integrate the pulses into an analog voltage that the Davis console would then output as a temperature. That could then be converted by a script into a fairly instantaneous rainfall intensity.