Cloaks
I'm with DZ, the legendary cloak blows Pharacus' out of the water. At a minimum, should only be +4 saves. Even then, I would expect it to be chosen over Pharacus' if someone had to make that choice, where there are people, weirdly, who don't own every legendary.
Then, also agree the art was way cooler on the vampiric cloaks.
So, this probably isn't the place for a long post on death in TD. But, if people aren't being threatened by death in dungeons, then they don't need "anything" that relates to not dying. So, there has to be an assumption that people can and will die in dungeons. And, yet, dealing with death has become rather trivial. Death Die got reprinted, flooding the market as URs are much more common than they once were. Rare rez potions are ... not unusual and cost essentially nothing for a lot of players. Legendary cleric just bops you back to life.
The UR cloak only slightly bothers me, stepping on Butterfly and adding to Ash's Death Pouch and Druegar's Death Die. The relic cloak only somewhat. But, full heal is extremely swingy as Endgame and Impy point out. Sucking down one attack is also likely getting out of control, but that didn't have (quite) the swinginess. Sure, it's a coin flip and planning around a coin flip could be awkward, but it's now possible to do three coin flips. At two coin flips, "know" you are coming back 75% of the time.
Divine Reach Gloves
Do we really need a functional reprint of Blessed Tempest Gloves? Not like those are hard to find. There are various slots with no 4* tokens - IS, head, ears, etc.
Arcanum Ring
I may prefer the other name, but the reality is that I'll just tune out what this is named after it's available, anyway.
So, writing out all of the abilities of the individual rings is a huge pain. But, every component was defensive. It's just boring to keep getting ability bonuses for STR/DEX/CON. It also steps on the toes of Ring of the Champion which is currently interesting.
Given its rarity level, I really don't mind if the token said "Gives all Sacred Circle Rings abilities" and sends you to tokendb.com. Not like Skull of Cavadar tells you what it does for you.