Dumbledore, the Potter cloak & interpreting Voldemort as a Hallows hunter.
I recently read an intetesting bit of meta (found from trawling through old livejournal posts) theorising that pre-1981 Dumbledore believed that Voldemort was seeking the Hallows in his quest for immortality. If one considers that Dumbledore was a little irrational on the subject, as it was tied up with the tangle of emotions regarding Grindlewald and the murder of Ariana, it suggests some different explanations for his choices and actions (or lack of them). He had seen the teenage Tom with the ring; although he initially dismissed the idea of it being the resurrection stone, he may well have reconsidered when he learned that Voldemort was making multiple inferi: this is apparently the exact use that Grindlewald had proposed for it.
It particularly highlights a reason for Dumbledore to "borrow" the Potter cloak: to ensure it stayed out of Voldemort's hands, just in case. (Given the prophecy strongly suggested whatever went down at Voldemort's first attempt at Harry it wouldn't be the end of Voldemort then and there, that raises the question of Voldemort surviving the encounter conventionally and therefore potentially swiping the cloak were he indeed after the Hallows). Heck, it gives an additional reason for why Dumbledore thought the Potter child the more likely subject of the prophecy since Harry would eventually hold a Hallow by natural family inheritance.
