This cloak is to my mind the best one a melee class could worn.
The effect on it might seem a bit disappointing, but if like me you began to play with a character who had infravision, then switched to a human (or barb and erudite) you know the nightmare it is to lose what the other races see as a limited advantage.
Anyway it seems that the Cursed loot table has been well reviewed and it is now the mob to gank if you re a monk, which is a pity because it handed me my guts back with a smile the only time i've been with peeps trying it.