Select Caps Lock from Key drop-down list.

If you don't want to use Caps Lock key at all, select Never radio button.
Select Only when I double-click this key if you want to turn Caps Lock on only by double-clicking the key.
You can make I Hate This Key to turn Caps Lock on when you holding the key for some time. Select Only when I hold this key for some time radio button to enable this behavior.
If you want Caps Lock key to work as usual, select Always radio button.

If you want to get a feedback about the Caps Lock is on, select Beep on Lock toggle check box. You will hear a beep every time Caps Lock goes on.

Clear Lock in on at startup check box if you want to make sure that Caps Lock is off when you starting your Windows session.

Use Double-click speed slider to adjust amount of time between two key clicks that will be considered as double-click.

Use Delay amount slider to adjust amount of time you have to hold the key before it will go on.