I found this post interesting by Draconi. Notice it says current abilities? I wonder if they will change in time?
Current abilities of the Cloak of Corruption:
Attempts to aggro a large area around the player
* Doesn’t work in towns/guard zones
* Cannot aggro players, pets, summons, or benign creatures
* Cannot aggro anything that is currently in battle
* Increases speed of aggro’d mob for several minutes
* Boosts Fame obtained from aggro’d mobs
* Can draw attacks up to 30 tiles away
Rapidly decays Karma
* -500 karma every 30 seconds equipped
Rapidly decays HP, Mana, Stamina in the normal world
Rapidly restores HP, Mana, Stamina in the Ethereal Void
To sum: A dread's best friend, or a hero's shield in the unknown.
Current abilities of the Cloak of Corruption:
Attempts to aggro a large area around the player
* Doesn’t work in towns/guard zones
* Cannot aggro players, pets, summons, or benign creatures
* Cannot aggro anything that is currently in battle
* Increases speed of aggro’d mob for several minutes
* Boosts Fame obtained from aggro’d mobs
* Can draw attacks up to 30 tiles away
Rapidly decays Karma
* -500 karma every 30 seconds equipped
Rapidly decays HP, Mana, Stamina in the normal world
Rapidly restores HP, Mana, Stamina in the Ethereal Void
To sum: A dread's best friend, or a hero's shield in the unknown.