My Reasons to Capo:
1) Our P&W sheet music sometimes has 2 chord charts: 1) for no-capo which are usually harder to form chords for an acoustic guitar, and 2) chord chart for capo @ fret #, the chords are usually open/easy. So 9 out of 10 times I choose the capo chords.
2) When a key change is called for, for the vocalists benefit as we are actually there to support the vocalists! The capo sometimes lets me keep the same chords. We used to tune the guitars down one whole step, and then capo @ fret #2, which brought the tuning back to standard. Then if we needed to lower the music's key for the vocalists, we could tune down either by a 1/2 step by moving the capo from fret #2 to fret #1, or down by a whole step by removing the capo. Worked out pretty well.
3) When I change strings, I capo each new string at the nut (like a 3rd hand) while I work on the string at the tuning peg & eyelet.
-Gary K