Devellis just said it perfectly. I know the CAGED system, but for me, it's more about understanding relationships on the fretboard. I use it with partial chords often. It gives you shapes, but you don't have to use the entire shape. CAGED also gives you valuable knowledge about scales. It helped me learn my way around the entire fretboard when I began to see the scales that underlie the CAGED chord shapes.
I think the CAGED system is very valuable, but less for 6-string chord shapes and more so for what I described above.
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