Here's a previous discussion regarding Lectora vs. Articulate. http://www.lectoralounge.com/forums/2/topics/7722
As for Captivate, it is a great tool for software simulations and some other custom interactions. I use it as an "element" tool, where I create elements that go into a Lectora or Articulate course. However, it is not a good choice for an entire course. The simulations/iteractions you create are individual swfs. Those swfs need a place to live, an overall course shell. Captivate does not have nearly as many options for that as Lectora or Articulate. (Although they do seem to improve those options with each new release.) To me, Captivate is an "also" tool, not an "instead of" tool.
Diane