Google's CAPTCHA experiment and the human factor
blogs.zdnet.com
blogs.zdnet.com
You've just got to assume even a "bot" is human now. Casinos don't spot many cheaters at the door, but rather spot them in the act by monitoring their behavior.
[1] Though still an issue, I don't think removing them totally would do much good, you still dont want people cause semi-malicious damage of your site for even non-profit reasons, such as the Time 100 poll which has been gamed by 4Chan (not that Time introducing a captcha has stopped them though, just slowed them down — however I highly doubt they'd have started it if the captcha was in place from day one)
Spammers can be fought by traffic analysis, communication caps and community based moderation. Even if you are absolutely insisting on captchas please don't do it as a first line of defense, use them on spikes like how youtube handles mass comment voting.