those are two very different case styles and i think they're a bit hard to compare to each other. will this be an every-day case for you? or is it primarily for when you're at work or school?
vaja cases are fabulous - i reviewed the i-volution top holster and absolutely love it. it's a very classy case and i like the screen protection it offers. but i often end up using my incase protective cover when i know i'm going to be out and about and want to be able to get to my iphone's screen with one hand, which is not easy with the vaja case.
i've heard very good things about the capsule case and am tempted to get one myself to try it out. it looks like the corners of the iphone will have much better protection in case of a drop compared to the vaja case.
is the switcheasy case in apple stores yet? if so, you may want to go see one in person if possible.
if you want a professional, high-end looking case for your iphone with good screen protection, the vaja is for you. i think the switcheasy case is also good in most situations and will offer good overall protection as well. i'd vote you get both of them!

i have multiple cases for my iphone and i use them all depending on what i'm doing and where i'm going - unfortunately, i haven't found one case that is perfect for all occasions.