Okay I have tried several ways to model a cape. I used just the Hi res plane from poser and ran it thru the cloth sim, did not like it.  Tried just using a plane in 3d max, looks in Max but no in poser. Tried modeling using the "box" method. I have modeled 3 different looking capes, and they look fine in Poser. 
Cape 1 I have 6 groups (chest, cape, cape1, cape2, cape3, cape4 and cape5) I have found if I conform it to my figure in Poser the cape turns sideways and is pointing to the middle of the chest.
Cape 2 I have grouped differently (chest and cape) same when I conform as Cape 1, so I set the parent to the chest of the figure. This sort of works but in certain poses the cape has to be adjusted buy rotation.
Cape 3 no groups. Used cloth room using the default settings to run a cloth sim. Well let us just say I hate the cloth room.
I really like Cape 2, was even able to create some morphs for it, but I would like it conforming.

Poserverse The New Home for NYGUY's Freebies