"but is the answer too find a different way to cap or just be the first guy done with his homework and grab the early line?"
a lot of things factor in here. If you expect the line to move in your favour, then you can risk it, and wait for a better price later on. Otherwise bet it, linemakers are definately sharp, but they are just estimating possibilities on a sporting event like any knowledgeable punter would, so they are also wrong or offset in their predictions, and sometimes you can get the best price by betting very early, before the sharp money comes in the prices are re-adjusted accordingly. There are other issues too, like weather conditions (for outdoor sports obviously), latest team news and coach plans for the games, etc. etc. which you can obviously factor in much better a few hours or even minutes before gametime (as mainly a soccer punter myself this is sometimes more than crucial), and hence a bet placed closer to game time would be a much more informed bet, risking a compromised price of course. So, there really is no single formula imo.
For example, last week, in my local soccer league, i capped a game and found some great value in the early odds, and bet it, only to find out minutes before the game that the coach had decided to rest more than half of the starting line up, for a more important europian event later that week. My bet lost, and i wished i d waited till gametime, but i did not regret betting a good price, despite the unforeseen circumstances.
Dimes has mentioned a few very important things, such as not getting swayed by how much you like a team to win and betting a compromised line. And besides power ratings, try setting the odds yourself, and then comparing them with the lines offered, if you can't get any decent value margin, say 0.1 or more, then there's no point betting the game.