If anyone's interested I created a tutorial for creating a cape in 3ds Max for use in Unity;
YMMV, I've encountered bugs in additional animations;
Awhile ago my workspace was featured on Lifehacker.com. Maybe I've ideas you can use?
Finally, around the same time I was on a podcast w/ Unity3dNews. It's worth checking out his channel!
bit.ly/1esJ11t
