Seeing Capcom bought by anyone would be heartbreaking to me, the end of an era most definitely. I know, I know - Capcom isn't at the top of their game anymore, a lot of talent has left them. They certainly aren't what they once were (IMO they could practically do no wrong in the PS2 days, and I've been a fan since long before that).
But I also think people make them out to be far worse these days than they are. Dragon's Dogma is a really good game. I haven't played the latest Dead Rising because it's on the 'bone, but people seem to like it from what I read online. The last DMC was incredible, I think them getting Ninja Theory to handle dev on that one was a really good move even if the game didn't sell that well.
Fact is they got caught in the exact same trap that many Japanese developers did last gen, changing the types of games they made to try to chase a Western audience. I'd say they did a better job of it than most *cough*Square-Enix*cough*.
Basically, I don't want to see them bought out, I want to see them return to their roots. And I think they still have it in them.