On some of screens from gameinformer article you can see, there nothing like cloth simulation system in Skyrim. ( Hope they make it until game will release.
I hope so... but we need a vid or more infos from GI to see if it would have cloth.
But, capes are one of the most wanted features by the gamers... And capes are really creepy if rigid like the mods on Oblivion game... It is time to get some cloth simulations in the Elder Scrolls...
This is the time! Please Beth... Give us a good surprise! ;D