My vote goes to raising the cap. You can still get 99, you can still get a cape, it's that you can now go further and get use out of it: Combat Level, better skill use, easier times in the dungeon, etc.
Everyone moaning that it'll make their efforts meaningless seem to not notice that they still have the level they built up. The cape is still there along with the 99.
It's like those that moan movies made from their favorite books and other movies. "They DESTROYED my favorite book, They RUINED my favorite movie, blah, blah, blah". Your book and movie and still there along with your 99 in cooking. You can enjoy those or go for something new. It's called PROGRESS, either ignore it or go along with it.
The problem with this is that you can still read the original book without ever needing to interact with the new one because they are two separate things. In runescape you will be forced to interact with people who have level 120 skills. I would not like this change unless they split the game up and you could chose to stick with runescape pre-120 level cap, or go with rs3 with the new 120 level cap. kinda like runescape and runescape classic
Not a single person in this thread would quit if the cap were raised. You must be kidding yourselves. This is Runescape. One does not simply WALK out of Falador.
I can guarantee to you that I will quit if they raise the level cap, after being banned for protesting of course.
However, I feel like this would be much too complicated for them to implement anyway. Just using combat as an example:
Because prayers are based on %, raising the constitution cap to 120 along with the other combat skills would mean 1 hitting people would be easier. Using piety, and assuming that the amount the super strength potion boosts stays the same (+19), 99 strength is boosted to 145, but 120 strength is boosted to 170. That is a strength increase of 25, while constitution gets an increase of 20. Its like adding 5 extra strength levels with no constitution levels to soak up damage. This doesn't even take into account % boosts give by weapon specials (ags), using turmoil ( with an opponent of 120 strength? yeah right), or that a super strength would probably boost +20 or 21. All this makes an existing problem much worse, and makes Jagex's job of adding life point increasing Armour much more difficult.