Thanks for the tips. I'm considering picking up black suit superman but the stock cape color bothers me. Exploring the option of ordering a Jaxon draped cape for it and figuring out how the install is.
Sounds like it's easy and relatively safe as long as the owner is not concerned with maintaining the original cape, just snipping it off and letting the clips fall inside the chest, then cramming the new cape into the same holes.
I've read that Jaxon is slow and the quality isn't much better than HT, it's simply the right color. I've heard that "Unreal Customs" makes capes too but I don't see any real storefront for that one, sent a message on facebook to find out of they sell them. (I've seen people mention Tony Mei as well but I can't find any evidence that they ever even made a grey cape for this figure.)
Are there any other options out there I don't know about?