Terry does seem to be getting treated shabby. Even if Capello wants another captain, Terry should be treated better than he has. Going on what the papers are reporting that Capello has said, he will have a different captain in every friendly and not name a permanent captain until after the first qualifier against Andorra in September.
Other than Gerrard who else is there, Rooney is getting better at controlling his temper but he is still ticking bomb, Owen doesn't seem to be liked by Capello and doesn't seem to be starting, if you believe the papers. That only leaves Rio and I imagine he will be captain for the next England game, I still question his judgement off the field and his concentration on it, but Capello is supposed to be a fan of his ball handling skills and his ability to bring the ball out from the back.
As for Hargreaves, he may have been a bit player under McClaren, but I expect he will have a major role under Capello. The holding midfielder, sitting just above the back four is going to play a prominent role in Capello's England. That seems to be Capello's favoured style of playing, I am not really sold on it but we will have to see what Capello does. I can't see Hargreaves being named captain, what with him being born in Canada, but he could be one of the first names on the team sheet when Capello names his lineup.