Often when new Feature requests come in they are at, what we consider to be the Master Feature level...basically an Epic. For future releases, we hold a Release Planning session where our engineers apply high level estimates to Master Feature that have been slated for a given future release. We usually don't break these Master Features into smaller Features/Stories until close to time to actually start on a given release. This allows us not to invest too much time in breaking out stories as our priorities are ever shifting. For budgeting purposes, it would be nice if a given Release could reflect the capacity using the Estimates on the associated Master Features rather than the underlying Features since many times for us, we won't break Master Features down into Features right away. When times comes to actually start on a given Release, it would make more sense to switch Capacity back to the Features themselves, unless Master Features had an option to automatically track/sum Estimates based on the underlying Features.
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