Yeah, but on a mandolin a capo is IMHO a little rediculous given that the instrument is so small to begin with. I think the course of least resistance is to really master the mandolin and learn to play in any key. And F isn't that hard, I agree.
Jim
P.S. A handy little book to get is The Mandolin Chord Book by James Major, Amsco Publications. It is readily available in most music stores, I think.
jk