Once again, people are forgetting the true use of the Caps Lock key:
True touch typists implement both shifts. This is so that words like Alaska, Quebec, and Peru can be typed using the correct finger (pinky). It's also more comfortable for non-pinky involved keys, for example, Wyoming is easier to type with the right shift. Once true touch typists get used to using both shifts, it becomes significantly easier to use the Caps Lock for any and all abbreviations, even two letter ones, like US, or TV.
I use Caps Lock very frequently for every day typing. I would hate to see it go, and it's the reason I use a modified version of Colemak which keeps the Caps Lock in its original position. Perhaps it can be moved somewhere else, but it has to be its own key and has to be in a location that is reasonable to reach.
It just bothers me considerably when people say the Caps Lock is a "waste of space" or is "only spamming." It's perfectly okay not to use it at all, but it's there for a reason.