I have the campmor cape and used it alot on my summer tour. It was great for those inevitable times when you get caught in the rain and have to keep on truckin'. kept me dry enough even in some pretty serious rain. my lower legs got wet, yeah but I had bags for my shoes, so I didnt mind. The thumb loops make it IMHO, and its nice having a big open dry space for the air to circulate beneath it when on your bike.. keeps you from getting clammy or whatever.. Perhaps a rain jacket and pants would be better for hiking or something (umbrella?) but for on a bike, the cape is tops! Its not the best in high winds, but for my situations it worked well. I guess sometimes youre just gonna get wet!
I imagine that if its raining hard enough to render this thing useless, then you probably dont want to be riding anyway.
fun, have.
~Steve