Last year I bought some 3ds models of rain; haven't used them since...
. It's called Stormy Rain, made by Forrester. There are several models. Each model consists of many, many small spheres, rectangles etc. I've loaded a model in Vue, stretched it out and exported it as an lwo-file, so I could load it into TG2. With several models arranged (in a population perhaps, I just placed a few in a scene), you maybe get an illusion of rain. Haven't had the time to find out how to make them look transparant, so for the moment I gave them an image map shader...
So here is a small render of a very humble rain-making-attempt...