Those levee hammers are way into the future. Our current capital has stone + copper in bfc which is important right now and even more after buro. The hammers which the levee will gain eventually are probably less than have been lost earlier through not having copper /stone enhanced by buro. Also the early gain in hammers by having copper in capital is far more important imo than the future levee hammers. We can now found a second wheat/fish city where we can later build a levee. If capital was 2E this spot would have had much more overlap with the capital. So i'm very happy with the current placement of the capital right now.
OK, let's make a detailed comparison.
Site 1: Settle in place, claim cow/wheat/stone/Copper
Site 2: Settle 1E of the cow, claim cow/Wheat
Let's count tiles 1st
Site 1: 1 cow,1 plain wheat, 1 grassland copper, 1 plain hill stone,1 rs grassland hill, 1 plain hill, 2 rs grasslands, 4 grasslands, 2 rs plains, 4 plains, 2 lakes
Site 2: 1 cow,1 rs plain wheat, 1 rs grassland hill, 2 grassland hill, 1 plain hill, 3 rs grassland, 6 grassland, 3 rs plains, 1 plain, 1 lake.
So the difference is:
Site 1 (1 plain wheat, 1 grassland copper, 1 plain hill stone, 3 plain, 1 lake )
vs
Site 2 (1 rs plain wheat, 2 grassland hill, 1 rs grassland, 2 grassland, 1 rs plain ) + levee of 10 rs tiles
Before the copper is mined, site 2 will produce more than site 1 due to the yield from rs wheat (1F1C). There will be 80 ~ 100 turns until CS. So the gain from the rs wheat only would be ~90F90C, and after CS the 1C gain will become 1.5C and will last forever. (If you want to argue that the rs wheat will be claimed by other city, still there's ~35 turns and that's 35F35C already. Stone site is only 1H better than a plain hill and I guess in many turns you will put your citizen to work on a grassland hill or grassland cottage or a scientist instead. If I give you 50H gain over a plain hill tile before levee, would you agree?
.
Before BW, the only good thing left on site 1 is the hidden resource. It only makes sense if it is a copper or horse (2/7 chance and you get the luck, Iron is not bad though. remember that there's also possibility of other resources in site 2). Even with the copper, how many turns will the capital work on it before other city can work on it. (I think the answer would be no more than 15 turns in case that it is not the 2nd or 3rd city to claim it. The difference between the grassland copper and a grassland hill would be 1F1H, so 15 turns makes 15F15H.) You will probably benefit the bureo boost of the 1H for 50~80 turns before levee is available, so that's ~35H. So the gain from Site 1 is about 15F100H.
Hence, the gain from the rs wheat alone is no less than the copper and the stone together.
Let's see what else in Site2 besides the resource tiles. Since the 1 grassland copper and 1 plain hill stone in site1 was compared to the 2 grassland hills in site 2 already. The the rest tiles would be
Site 1 (3 plain, 1 lake ) vs Site 2 ( 1 rs grassland, 2 grassland, 1 rs plain). Do I need to say more?
Finally, don't forget the 10 levee hammers, which will be used for 50~100 turns in this game and the fact of 7 levee hammers waste in this map.
If capital was 2E this spot would have had much more overlap with the capital.
Again, you have not read my post carefully, that's 1E1NE.