Dark Age of Camelot was the only MMO I've played that did capes well. You could stick your guild logo on it, dye it, and choose whether or not you wanted the hood up or down. I would love capes in this game, of all sizes, and with an option to turn them off if you don't like the look. Or maybe they're part of the vanity system. No stat increases, but you can wear one if you want to look dashing.