Haven't started playing Mafia Wars by that time (July 4, 2009) yet was able to complete the collection courtesy of my good friend from my Mafia Family...
I believed the Red Coat is the most popular stuff among those 8 Independence Day's loots. From 32 Defense originally, Zynga change it's Defense stats and make stronger by 38 Defense...it should be one of the three of your best defense when you're fighting...well not until you reach Episode 6, Chapter 1 of Moscow where you can loot the Executive Overcoat with 22 Attack and 45 Defense...