I have a few questions for those ahead of me...
1: level 64 here, seen quite a few 80’s haven’t seen a single cape or cloak.
2- Not for me but it’s highly dependent on your pc hardware.
3- Mostly I’ve just seen/heard pvp is the top “end game” goal a long with 100% the world map, first dungeon you’ll encounter will be Ascolonian catacombs in the Charr starter area (forget its name) a lot of people run this. It’s level 30 for story mode and 35 for explorer mode if I remember correctly. You’ll get a in game mail at 30 telling you about it and it can also show its entrance to you on the map.
I believe I got my cloak for my main around level 20 or so. Until then I just kept seeing a space. I can’t recall if it was a story prize or something I crafted though, sorry. Check the AH if it was crafted I am sure here are some on there.
2) Does WvW lag for anybody else? I run the game at 40-50 FPS on average, but during my first WvW game once a real siege began I could barely get up above 5 FPS.
Yes, big battles tank my frames down to a measurement in FPM.
3) What kind of end-game goals are there, and where will I find the first dungeon? I’m only level 20 at present.
Not sure, lvl 30. You will get a mail everytime you hit the level for a new dungeon.
I’ve been 80 for awhile, there are no cloaks, the slot you’re thinking of is probably the padding between armor slot.
I lag, but my FPS in below yours.
Starting at 30 there is a dungeon every 10 levels, with 3 around the level 80 mark.
You have to play them in story mode first, than it unlocks exploration mode.
story mode is far easier as it includes the npcs from your personal story.
explo is far harder and gives you tokens you use to eventually (it takes hundreds per item) unlock exotic gear (all exotic gear is equal)
so to recap, you hit 80, you get all exotic gear, you have nothing to do but what is “fun”
and by fun I mean you no longer get anything but aesthetic goals, i hope that is enough for you, because that is all you will get.