That's adorable! And I'm in the late 40s/early 50s camp, too, and lean toward 50s. I had a late 40s' topper jacket in an almost identical houndstooth print, and I agree that the arrow design could certainly be from that era. It seems to me that 60s' capes weren't as short--even the shorter ones were longer, if I recall correctly. I also think that many houndstooth patterns were larger. I have several capes from the late 60s/early 70s in stock right now, and they have, as Amber says, more rounded shoulders, without a defined shoulder seam.