When I some time ago thought about this, I concluded, assuming rain falls vertically
and body could be approximated as a parallellepipede:
1) Rain hitting top of you is proportional to time dwelled in the rain, independent of
horisontal distance travelled.
2) Rain hitting front of you is proportional to distance, independent of time passed in
the rain.
So it should pay running because it reduces water hitting the top surface of you, but
doesn´t change water hitting your front. If you could be approximated as an upright
straight column or something.
If your body may be approximated as a sphere of cross section A, the water droplets
uniformly distributed falling at vertical speed Vv and you run the distance S at speed Vh: Then your speed relative to the "cloud of raindrops" is SQRT(Vv^2 + Vh^2) and the time you pass is S / Vh, so the length of "tunnel in cloud" and total amount of water you receive is proportional to SQRT[1 + (Vv / Vh)^2]. So also in that case it pays run.
