These are good ideas to get started with. Draping time is going to vary, depending on the size of the cloth item and the complexity of the object it is draping against. You will find that adding more frames that 30 for the effects will be more and more appealing. There is both applied gravity and applied intertia; if you have the figure move a distance, there will be a tendency for the cloth to want to 'stay in place' (conservation of momentum). Thicker cloth can take longer to drape, and if your character moves any great amount, you may need to add 30 to 60 frames at the end of the animation to allow things to stop swaying and settle once again. On the other hand, this can lead to some very impressive still renders. By choosing the frame in the animation that has the look you wanted, you can have effects that seem to suggest that serious action is occurring.