I think Cap combat is more interesting. The strategy, the composition and the feel of successful organization is much more satisfying.
Snubs can be fun, though it's somewhat disappointing seeing aces mow down person after person where there's little they can do to make a comeback (mad cuz bad!!!!) though, whereas in cap pvp victory is up for grabs by either side depending on the fleet composition and use of your environment.
Though to be honest, it's great when the two come together and you get to partake in a fleet as one whole unit working together.