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Jagex obviously wants to pacify the PVP crowd without allowing RWT. Through several failures they have not been able to find the right mix yet. I think the biggest problem that Jagex has made is by telling us too much information. They told us exactly how much you have to risk for the other person to get a drop, they told us exactly how much you have to risk for you to get a drop, they gave us a specific EP % to let us know when we could get good drops, etc. Because of this, everyone can easily figure out what to do to get great drops. Personally I think the EP % indicator was the biggest problem. For example, I got 99 Fishing by fishing Monks at Piscatoris on PVP worlds. There was no EP % then so I would just 26K every once in a while and rarely got any good drops. I would often fish for days before 26King, thinking that this would increase my drop potential. Now I know that my EP is maxed at 40% after 2 hours at Piscatoris. If I would have known this, I would have 26Ked every 2 hours and/or found a fishing spot in a hot zone.
It may sound stupid, but I would like Jagex to come up with new rules for PVP and then not tell us exactly how they work. PKers will continue to PK because they like it and will stumble upon tactics that seem to lead to better drops and non-PKers will not be sitting in Hotzones for 2 hours and then making millions.
You can't really fault any players for taking advantage of the current system since Jagex states it's not breaking any rules, and it's one of (if not the) best money makers in the game.
It's a shame the the Quest Cape cannot be trimmed. It has a cool emote and completing all quests has always been a nice accomplishment. But since it is untrimmed, it's mostly worn by lower leveled players who don't have 2 or more 99's, thus helping to keep it's reputation as a "noob" cape. If it could be trimmed, I would gladly wear mine some even though I have 12 other capes to choose from.