On a recent (December 2017) trip to Italy (BOS-FCO), Alitalia business ("Magnifica") class was fairly inexpensive - definitely competitive with real PE on airlines that had it, and not a whole lot more than the economy fares that were still available at the time. You'd have to get to one of their north American gateways, but that might not cost too much. If you travel DL to the gateway, you can probably do it all on one ticket.

As for Capital One points - use them to defray the next ticket you buy with real money. They're just a cash-back scheme with restrictions. Better than a credit cad with no bonus features, but not to be confused with airline miles.