I'm not a big capo fan. Sometimes they are very useful, and you can get some interesting sounds out of them (especially the open, or cut capos), but I'm a big believer that you shuold be able to pick up the guitar and play in whatever key you want (without retuning or using a capo).
Take some time and learn a little basic theory (about all I know is basic theory), and learn to finger the first position chords anywhere on the neck. It will really help your playing.
David
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