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Even better, one's peaked (4,3)

Ross

I believe the answer is:

flat cap

'one's peaked' is the definition.
(hat with a peak)

'even better' is the wordplay.
'even' becomes 'flat' (similar in meaning).
'better' becomes 'cap' (both can mean to beat somebody else's attempt).
'flat'+'cap'='FLAT-CAP'

(Other definitions for flat cap that I've seen before include "Type of hat" , "working-class symbol" , "Headgear (of the working class?)" , "> lid" , "Style of headgear" .)

I've seen this clue in The Times.
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