In my opinion the cape should represent a completion of a set bonus.

Also, the fact the lox cape AND the wolf cape BOTH provide cold protection kind of sucks.

I would like to see the lox hide provide poison resistance instead.

I would like to see the leather cape give a small stamina boost so that the leather cape isn't completely irrelevant.

I mean why bother with 1 bonus provided if it doesn't give some kind of stat buff, even if its a small one?