We found out on Tuesday of the new ability to toggle customized overcloaks that replace the look of your cloak (but leaves the stats intact). As a dwarf priest, I would proudly wear the Ironforge colours of gold and red. But I wouldn't have a problem wearing something else that looks as slick as say the insignias of the Argent Crusade. From a guild perspective, I think the guild tabards in game are okay. The problem with tabards? My beard covers it up. I know for other classes and races, the tabard has that "tucked in" look. Many comments from the overcloak post mentioned overcloaks with guild tabard designs on them. Not a bad idea and that is something I hope we'll get to see.
Now I have to ask, what cloak designs are you looking forward to wearing?