I think caps filter is important.
It keeps young immature players from spamming the chat and disturbing the server.
Even though it sometimes is annoying, I feel it should stay.
~ @riri30
Even with the caps filter imposed, it's quite simple to find a method of bypassing it; there will still be players that abuse these methods to emulate caps. Similarly to how staff moderate chat at the moment to apprehend any player that evades the caps lock system, removing the caps filter would have staff moderate chat in the same manner (warning any player that purposely uses ALL CAPS WITH NO MAJOR MEANING).
Additionally, as kwagscraft mentioned, I'd rather see this:
than this:
L O L I C A N S T I L L U S E C A P S
.
Getting rid of spam/textual abuse in chat is virtually impossible. That, however, is what the moderation team is there for. I believe that the caps filter really isn't necessary, and only encourages troublemakers to seem more obnoxious.