I think you will be happier with a new cape. Either way you will have the memories.

Well, we decided to use the new cape! I'll post a pic on here once I get it back. Thanks for the advice everyone. Jeff

Definitely go with the new cape. If your taxidermist mounts it to look exactly like it did when you shot it, it's going to look ridiculous. The animal was very sick, but that doesn't mean you have to display it that way. Display it as it most likely looked when he was healthy, at least that's what I would do.