The cape is an override, but that's fine. I'm still sporting my spiffy 15 year Veteran Cape, which I picked up last month. When combined with the Tuska Storm teleport, it creates a little firestorm! A similar, though less-impressive, effect occurs while wearing the cape and using a float platform in the Runespan.
Not a free item, but still a fun item. Aslon Dak: Still 'Scaping after 15 years!