Nah, it ain't "cheating" Sham. Classical guitarists take care of the "capo" issue, by transcribing everything to "guitar" keys. (they want those "open" strings as much as anyone) Flamenco guitarists go through whole careers ONLY using a capo (often way up on the 6th, 7th, or even 8th(!) fret)

Even Chet Atkins plays most of his instrumentals in "guitar keys".

Someone who didn't? Merle Travis.

Rick