In the past it was a platform issue, Internet Explorer had a bubbling model, and Netscape was more about capturing (yet supported both).
The W3C model calls for you be able to choose which one you want.
I think bubbling is more popular because, as stated there are some platforms that only support bubbling…and it sort of makes sense as a “default” mode.
Which one you choose is largely a product of what you are doing and what makes sense to you.