I'm a big proponent to softgoods features on action figures in this scale. While I don't think they're ALWAYS the best option, I do think they should be used any time they are helping a figure's poseability. So Jedi robes, any "cape", etc., skirt pieces, and the like... These are good.
The trenchcoat that came with Han is amazing to me, and I think it's proof of how softgoods just make the toy better... Does it look "real"? No, but a plastic coat's going to hinder articulation, even the best flexible plastic would've unfortunately. And Han's coat looks GOOD... not great, not perfect, but good, and for a toy that's what it should strive for I think over looking perfect.
Sculpt/likeness has its set of rules, but when a character's outfit impedes a toy's playability I feel that the sculpt accuracy needs to take a back seat to the toy's quality as just that, a toy. So the cloth coat is all good to me.
For my money, I like Greedo's vest a lot... Fabric texture is important in how the cloth comes off aesthetically on the toy I think, so for me I prefer a thin fabric used on coats/cloaks like a Jedi robe, but with a coarse texturing to the fabric... It matches up well with the costume's looks in the film. The thinness of the fabric helps it lay flat on the figure, fold with the figure... It helps the aesthetics, and the weave of the material gives a nice look of a heavier material.
If you want to see the single best softgoods robe for a Jedi, look at the old Lollipop Mace WIndu (Total Control Mace Windu) From Saga 2002-2003. THAT figure has great fabric for its robe. If they sewed full Jedi robes with that, they'd be able to sell them in bulk, I guarantee it.
When I do my reviews here at JediDefender.com though, I pick those little details apart... Is the Jedi robe of the quality of an Evolutions Anakin's robes, or is it a VOTC Obi-Wan's robe? That's important... Neither is perfect, but one's clearly better than the other.
On Greedo VTSC, I liked his cloth vest. I thought it was going to be attrocious, but when I opened the figure it gives a feel of a bulky and "hide" vest... Like it's an animal skin. It's kind of neat really. And Greedo's vest in the film has a fuzz look to it sort of... It's plain and flat, it's brownish-orange... I thnk Hasbro nailed it. And with the vest being one singel piece cut and only sewn at the sides, it's really not bulked up by excess fabric at the seams... It's pretty spiffy I think. To me Hasbro has a winner on that one.

It even covers the holster if you want, or you can have Greedo push it back over the gun for a cool gunslinging look. To me it's far superior to fabric for those reasons, but does it look better than Commtech Greedo's vest? It's a better color but the sculpted vest is more contoured and stuff to the figure... For my money though, the cloth vest makes the better toy... I'll take the cloth vest then over CTGreedo's plastic vest.
My CT Greedos have all been pushed into my Jabba's Thugs army now, and VTSC Greedo reigns supreme over all the others, hands down.