HITS: it's awesome that Fallout finally has cloth physics.
MISSES: The way the cloth is rigged is mostly limited in down below the butts, it goes for dresses and trench coats. For dresses, that is fine, It doesn't need to be pervy and be like Marilyn Monroe everytime you jump.
Secondary mention, cloth physics is disabled while sitting and sleeping(NPCs), I can understand it is to tidy up the look, but WHY SWIMMING?
Trench coats, MAN, IT KINDA DISAPPOINTING!!! Most of the time, trench coats are cool because atleast they flow FROM THE WAIST DOWN. You have seen Matrix, Underworld etc...you know what I'm talking about.
The Silver Shroud Armour is such a TREAT, I'm quite grateful for it. The front and sides flow nicely, and they even DraqeS, which is amazing. But the back is DISAPPOINTING, it is limited below the butts. It is MUCH better if it flows freely ALL AROUND. I have seen a 2004 game did this: Vampire the Masquerade Bloodlines.
One interesting observation though, Piper's Red leather coat is actually rigged properly, you can see the cloth is free from just above the butts, close to the waist. However, this is such a short coat, it doesn't quite quench my thirst.
I just hope someone pick this up and give the cloth rigs a little tweak in future DLCs? Fingers crossed.