I have captchas enabled, the 4 letter code is not bad... doesn't matter about capitalization, I've set up 2 dozen or more test accounts using them, making sure that I can invite people to upload their pics, and the pics go to the right place...
I don't know enough about javascript captchas to venture an opinion on whether invisible is better...
Did you know that you can set up an account with a single letter/number, using a single number/letter for a password? That's helpful when setting up test accounts, not sure about letting people sign up with that little info....
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