Ah....great thread...even a fresh "capo" song!
Wasn't it Burl Ives who did the "Capo On My Brain" song?

Anyhow... in addition to all said in regards to sound, pitch, etc... capo vs no capo.... I tend to enjoy the various effects a capo has upon the tone of my guitar. As the capo position varies, so does the mood and even playing style as the position of the capo changes many things beyond pitch: ...sustain, punch, clarity, the percussive nature... etc. Chicken-pickin' or ragtime is always more enjoyable (for me) with the capo on the 2nd or 3rd fret. [Linked Image]