Take Arcanum and you'll see it has everything you wanted in an RPG.
If the company would've done an "equipped" picture for every item in the game:
-Why would you ever want to fight with a pitchfork?
As for horses, I agree, it would be interesting but you'd have to buy as much steeds as you have characters. Which would eventually slow the game.
Cloaks, yes. Since RiftRunner will be in 3d, I would be glad if the game had cloaks of different colours and you could actually see in ingame, not only on a paper-doll.
Yes I played that game too but somehow unlike many others I very much disliked the story and the plot I don't know <img src="/ubbthreads/images/graemlins/smile.gif" alt="" /> By the way Planescape torment is much better on terms of interacitivity in game and rpg <img src="/ubbthreads/images/graemlins/smile.gif" alt="" />
About horses I guess you are right on that point however I guess if you have played Ultima Online its requirements are very low(I could even play it on my old computer with 64mb ram and terrible graphics cart) while tens of people travelled around me with horses <img src="/ubbthreads/images/graemlins/smile.gif" alt="" /> The engine in Divinty is ofcourse much much different but I guess since it will be majorly single-player it can be done or maybe not just a suggestion
Pitchfork was just an example long sword and short sword or double-axe and wood cutters axe are also the same <img src="/ubbthreads/images/graemlins/smile.gif" alt="" />