It took me some serious consideration and a 15 months of deliberations before I finally pulled the trigger on a
Cleverhood Urbanaut I'm really glad I did. The stitching is very fine and well done. All the seams are sealed and the fabric is a heavy polyester that is both weighty and does not absorb water in the way that nylon does. The price was the biggest hurdle. But, high quality hand-made garmets cost what they cost. For a full list of the other features check out their website. I liked the first for cycling so much, I bought a second the next size up for walking.
A big and heavy sail isn't what you want if your goal is to set a PR on your daily commute. But if ambling along dry with good cool air circulation on your daily commute is your goal, a rain cape is a worthy investment. I don't know why I waited so long.
I still wear gators under rain-pants to defend against road and wheel derived water and splashes.
Road, flat, or touring/Northroad handlebars...makes little difference. There are thumb loops that hold the cape where you need over whatever handlebar you have.