Earlier quoted context omitted.
Turning on "no self intersect" produces much more realistic-looking results; any reason you don't have that on by default?
I'm not the author, but enabling NoSelfIntersect totally ruined the frame rate for me. I was barely able to open the controls to disable it again. It's possible it's not on by default as a performance consideration.
Avoiding self intersections results in more realistic cloth behavior like folds and wrinkles. The problem is, iterating through all pairs of points comes at a computational cost, and can really drop the frame-rate, particularly for large cloths. So I decided to keep this setting off by default until I have a smarter way to implement this (e.g. using quadtrees).