http://www.pixeljoint.com/pixelart/31255.htm
http://spritedatabase.net/file/146
Strider's is more of a scarf, but the same kind of idea. Basically make it flow more, right now it's like it's made of something really heavy.
The shield could also use a bit more motion back and forth, but that can wait.
Thanks for the reply Rosier! The resources are really helpful (that PJ animation is too sexy gah)! When you say flow more, were you suggesting making it flow higher (more curves, for the lack of better words)?
And the shield, I meant to make it look like he's guarding what's in front of him even when he's running. When you say more motion did you mean more arm movement?
Right now the cape looks like it's magnetized to the ground or something. If it's made of cloth and he's running at a decent speed, it should be a bit more in the air, billowing rather than staying mostly static. It should be that smooth of a line at the highest point. More curves would definitely help.
As for the shield, even if he were trying to keep it level, there's little chance such a big shield completely stable. It should wobble or turn slightly, more like the sword.