This photo recently taken by Anastasia Chuykina and used with permission. This is the top of the "death gully" leading off standard route. Anastasia sent me the high resolution photo (PM me if anyone wants to see the high resolution photo), but I couldn't upload it, so here is a lower resolution photo:

You can see that a trail or sorts is starting to form in the gully (maybe mountain goats contribute to this too?).
Especially in the high resolution photo you can pick out the sets of footprints going down the gully. It actually does look like a route down to the lake, but it cliffs out farther down. This was the scene of the recent accidents on Capitol Peak.
Here my photo (September) showing the top of the gully in relationship to the face:
Higher resolution:
http://images.summitpost.org/original/1006700.JPG
Here is Mark Thomas' photo taken on our May climb several years ago. It isn't high resolution, but the snow makes the cliff bands stand out more:

The gully is negotiable with bypasses almost down to the snow/icefield at the base of the north face of Capitol. Unfortunately, a cliff blocks further access and it is impossible to reach the lake without technical gear. Also unfortunate, you have to climb all the way back up to the summit ridge in order to escape the gully and this would take several hours.
Anyway, I hope this information is useful and I will try to update the Summitpost page to make sure that people are aware that the gully is not a viable route.
Have fun and please be safe out there.