Capture sharpening is usually advocated as part of a "three stage sharpening" workflow.
Capture sharpening is to remove the softness caused by digital capture - and nothing more. The next stage is creative sharpening - which is optional and often only applied to part of an image (this isn't something you can do in Lightroom - you need Photoshop or similar). Finally, there's output sharpening - the parameters of which depend on the device you're going to use.
In Lightroom 1.1, Lightroom got the great capture sharpening features of Adobe Camera Raw 4.1. However, the output sharpening facilities are still rudimentary; in the Print module only you have Off, Low, Medium or High - and that's it! Hopefully that will get improved in the future.
David