If level cap was good then they wouldn't have to remove it from CoP areas due complaints. Caps only works as negatively restricting people's gameplay.
Not true. CoP caps were removed so that people could burn through old content to catch up. If you remove caps now, the same will happen - the different being that there is no alternative content available. So basically you are advocating throwaway content - not a good idea if 2 dungeons is all you get in 9 months.