You can get the Tyreal look (kingpin 202's avator). He has a red flowy cape while wearing gold armour. And his cloak hides his face. It's a good hardcore look, I think.
I heard Ultima Online was a good game. It lets you tame animals like dragons, and you can put clothes on top of other clothes (a cape while wearing armour, or a cloak over your chain mail). I heard you can also use mounts.
But, I think it's pay to play though.