The SMD Serenity Net Tent solves most of the bug problem. It goes well with the Cape, and provides a ground cloth you need anyway, for not much more weight. The netting helps hold gear close to you, especially keeping a quilt or bag off wet or muddy ground, or from sticking out from under the Cape and getting wet. I love the NetTent and with the bugs where I am would never go without it. Its a little cramped, but I can just sit up and dress inside it.
I spent two nights in the Southern Everglades in August with this combo. The first night, hundreds if not more, mosquitoes layered on the outside of the net, but there was enough space to keep away from the sides, lying on my back, or on my side.
The second night was during the outer bands of Hurricane Gustav. Sequential downpours, but the Cape kept me dry, no leaks. The hood cinches up tight during rain, but opens for excellent venting in better weather.
Often in good weather I'll pitch the NetTent and then the Cape over it, and after I've placed all the stakes, take the Cape part way down, folded on the ground, with only the 3 rear stakes still attached. If it rains I pitch it back up.
The NetTent works much better IMO with separate stakes. This allows a tight pitch to keep it away from skin. The provided loops for attaching to the Cape stakes give too loose a pitch for my taste.