I cap and carry at half cock (I mainly still-hunt). I feel comfortable carring it that way using the cradle or ready carrying positions. A thick foam earplug would likely serve the same purpose as a piece of leather, I use one over the nipple when there is a lot of moisture. It conforms around the nipple and stays on well with the hammer in the half cocked position. It does have to be removed after drawing the hammer all the way back, the cold weather hardens it and it doesn't normally fall off on its own.