xienwolf
Deity
Well, I am not comparing it to the 3 or 4 Manes and AC so much as comparing it to that AND settling a city in the location on your own. Hyborem gets too many free bonuses in a city if he settles it, thus I could not think of any wonder which it is worthwhile for him to capture. Now that I am thinking about it closer, the only wonders which come to mind are those which make your specialists produce more 



An Infernal city that is settled starts with: Ashen Veil Religion, Elder Council, Training Yard, Obsidian Gate, Forge, Mage Guild & Demonic Citizens.
All of those combined is quite nice, and it is primarily the Demonic Citizens + Obsidian Gate which make me claim that it is better to raze & settle than to capture.




An Infernal city that is settled starts with: Ashen Veil Religion, Elder Council, Training Yard, Obsidian Gate, Forge, Mage Guild & Demonic Citizens.
All of those combined is quite nice, and it is primarily the Demonic Citizens + Obsidian Gate which make me claim that it is better to raze & settle than to capture.