Looking at these oversized caps, I'd say they exemplefy form following function as they look like a creditable form of reinforcement, the extra metal about the periphery adding to the brazing surface and cross-sectional area at what looks like the most-minimalist section of the entire frame. Functionally, they would appear to accomplish some of the same load-spreading as the very different cappings on one colnago that we discussed a few weeks back, tho it would depend on the actual (debatable, as I recall) method of fabrication of that Colnago's caps. In either case, the aesthetics please my eye as both of these examples show precise workmanship.
Ebay Colnago:
http://ebay.com/
David Snyder
Auburn, CA usa
Subject: [CR] oversize seat stay caps?
> Dale Brown sent a link to a Raleigh Pro with oversized seat stay caps. I
> have always thought the oversized caps looked sloppy, like the builder
> could not be bothered to do the work necessary to get the caps flush with
> the stays. Is this just another esthetic approach to ending the seat
> stays? Is there more to it than that?
>
> http://cyclesdeoro.com/
>
> Best regards,
> Marcus Helman