BP says that the new cap they've placed on their leaking wellhead is capturing 1,000 or so barrels of oil a day. That's a fairly small fraction of the estimated 10,000 - 20,000 barrels thought to be escaping, but the BP officials think that the percentage capture will go up as they close additional vents. The vent closure will be conducted in a way as to minimize the formation of hydrates which would interfere with the operation of the cap.
Here's an animation from BP that explains how the process is supposed to work. Let's just say, I'm not confident.
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