Hi Frank,
You question is very hard to answer meaningfully. For a start, save for broad generalities, we do not know what old Capoeira was really like and since it has come out of the closet it has absorbed all sorts of other combative influences, including boxing, Karate and its variants and on all accounts it relies heavily for its effectiveness on surprise. We must also remember that before WWII many Okinawans and Japanese migrated to Brazil and in the 1960s a lot of Koreans also found their way into the region, though most opted for Paraguay - These folks left their imprint on local fighting styles; The famous Gracie style Jiu-Jitsu coming to mind immediatley.
With that said, the effectiveness of any martial art depends disproportionately on the individual practitioner's athleticism, that is strength, speed and size, as well as muscular coordination. Things being what they are in South America, the ticket out of the slums and poverty is through soccer or boxing. Anyone who is good enough to walk the walk and not just talk, is hardly likely to waste his time with a obsolete MA when he could make good money and fame in the ring or in the stadium. In contrast, the best that any Capoeria practitioner can hope for is to become either a feared slum crim or at most a nightclub performer, perhaps an instructor at one of the schools - To put it differently, it does not offer a very attractive or rewarding career path. Still there are exceptions and in all probability a few must be very good fighters.
Cheers
Chris
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