I'm in agreement with NobleHops, the air gap acts as a progressive spring.
I also read once about a suggestion to install Schrader Valves on the fork cap and running 5-10psi or so pressure like the XR650's use to...yet I don't really see anyone using them. What gives?
Cheers,
Kenzo
it is an old school mod that helps stiffen up the front end a bit, pressure needs to be adjusted every couple hundred miles though with a low pressure hand pump. New springs and modern fork oil in the correct weight is just better, and then there are things like cartridge emulators...the air caps are a noticeable improvement though if that is all you got
+1 on the emulators. They won't work n the early CB750 forks with the groves and clips and pistons, though.
Here's a pic of my DIY air caps. I, or rather the machine shop, drilled the caps and threaded them for fittings with compression rings. Got the parts from a suspension kit for a car. The hose plugs into each cap, and gracefully meets in the center, where the 2 ends are attached to a compression T. This eliminates the need to struggle getting them synched. The T has a automotive air filler which I bracket in the center and topped off with a skull and crossbones cap.

True, it takes very little air to make a difference. 5-8lbs at ride height is great. Easy to do. If you open the system and the valve core, extend the forks all the way, replace the valve core, then let it settle back into its sag, you'll likely be where you want it.
I also use the top of oil measurement as that's the way the racer guys do it. A little clumsy with the tubes on the bike as you have to collapse them all the way without springs. Better to do in the vice. Put your highest amount in. If that's too much, you can siphon some out to suit, while assembled.