Rapid deployment and Capistrano

Where I work, we are using cvs ( i know), but it works. Currently we have our projects set up thusly: We have our Joomla current release package checked in as a single project, and then any custom work (modules, components, templates) get built on the same release, then diffed from the core and then checked in as a separate project.

So, if you are keeping score at home, there is a multi-step process to deployments.

1. Check out the Core Release
2. Check out the Custom Code
3. Create the destination htdocs
4. Copy the Core Release to htdocs
5. Copy the Custom Code to htdocs
6. Import mysql if needed

So looking at trying capastrano to see if that will help speed things up, or at least automate it. Anyone using it?