After episode two (or three if you're a purist), I've concluded that The Cape is a dud. Anyone who has seen The Incredibles knows that superheroes shouldn't wear capes. They get you killed.
The beauty of The Cape, aside from Summer Glau, is that it embraces the camp. The show aims to be a comic book story, and with that comes the cheese. However, it was a nice change of pace to see the show give a nod to fellow comic book character Gambit with a violent, card-throwing murder.
As much as I hate to say it, the over-the-top dramatics, combined with The Cape's holier-than-thou attitude doesn't encourage the loyalty I usually dedicate to my TV shows. At best, The Cape is DVR-able, but if your DVR is anything like mine, inundated with a myriad of better shows, then The Cape is not worth your time.