370 light cap? Pffft. Destiny's throwing everything at players now with the next update increasing the max level to 400, with corresponding engram drops from certain activities.
The jump in level and update will arrive on Tuesday October 18 to go with Heroic mode for Rise of Iron's Wrath of the Machine raid. Various activities will upgrade their potential max drops as follows:
Wrath of the Machine, Trials of Osiris, and Iron Banner should all apparently provide higher rewards on average. In nearly all cases the required Light level for these activities will stay the same except for Nightfall, which will increase to 380.
One more tweak from the update is that Artifacts and Ghosts should drop more frequently and have been added as Archon’s Forge completion rewards (they'll also drop at up to 400 light). Nice.
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