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A big ass tarp over your canvas wall tent. my tent is 25 years old and the material you are talking about above.. used 100% in PNW weather with a big ass tarp cover.. works just fine.. The trick is drying out before long term storage...
We have three canvas wall tents ranging from 25+ years old to 3 years old. Not one of them have ever had a tarp on them or any kind of treatment and they dont leak. They get put up for 4-5 weeks every year typically from mid october through second weekend in November. Keep people from touching the roof while its raining and they wont leak.
the reel lite material like what the alakanak is made of, is very nice, you can put it away wet if you had no choice and it will be fine. Canvas is a pain in the butt to get dry to put away for the season, if you have a big barn or garage, you can hang it up and it will be fine. But I've had both, and the alaknak is just way easier to set up and put away. With a good stove, the heat will feel the same as if you had canvas.