I sat through several Capture One tutorials. It seems to have a very flexible catalog system like Aperture that lets you store the raw files inside the catalog database package or in file systems folders....your choice. You can also do logical projects, folders, and albums in the same manner as Aperture. Very cool.
The image editing tools seem very good.
Missing: plugins support, map/gps support, web page gallery support, slideshow creation, book creation support, and social media site export. If you use those types of functions in Aperture or LR, Capture One may not be a good fit for you.
I've got experience with both capture one and aperture. Capture one is really tailored towards profesional studio photographers, using tethered capture, with phase one backs etc, rather than supporting things like geotagging etc.