I struggle greatly with drawing draped cloaks and fabrics. Specifically Batmans cloak in his frequently used brooding pose. I think this one turned out ok. Especially since the actual drawing is only about two inches high.
This is okay, but the folds are too fluid. His cape is some kind of super-elastic plastic that clings to him. the cape is heavy and hard(ish). It should have more prominent folds and not stick so close to him. Plus it looks cooler if it covers more ground. Not to say that I am not in the same boat as you. Honestly, I couldn't come up with something half as good as this.
Have you ever checked out "Bridgman's Complete Guide to Drawing from Life"? It has the most understandable instruction on drawing cloth draping I have ever run across.
Ok, this feels weird to say. Mainly because I consider you a waaaaaaaaaaay better artist than me. But Burne Hogarth has a book on drawing wrinkles. I think you did great, but if it bothers you that much then you may want to check out that book.