Evil and Chaos wrote:
Gavin is asking...
I am not!

I was teaching the game to a friend and this exact situation came up. I put a unit of Nightwings on CAP and the next activation was my friend trying to Intercept them. We came to the same conclusion, that they were "out of reach", and so he put his on CAP anyway.
The end result was (quite likely) the same. He brought on bombers, I jumped them with my CAP, he bounced my CAP with his CAP...and the scrum in the middle was quite fun.
I would venture that changing the way that CAP is currently would be a bad thing. Maybe the CAP is just "too far behind enemy lines" to commit to, but sometimes CAP is a way of getting your planes up "just in case" without having to actually engage them. It is possible for the circumstances to just be too poorly against you to actually want to commit your fighters, and thus not make them interceptable.
It is also a valid stall tactic, I think. If you just cant decide what to do, or have that extra formation, burn a "CAP" order and then make your opponent go. Now, if HE just puts a unit on CAP as well, well, you get what you deserve (what comes around, goes around!), but I think it works as-is.