Walt is right (as usual) about the advantages of mixed-case passwords in 
deterring brute-force attacks. To get a feel for the difference, take a 
look at http://www.goldisconsulting.com/predict.htm
 
Mixed case passwords are also effective in deterring "dictionary" attacks. 
In our consulting and pen-testing work, we often run cracking tools in both 
ACF2 and RACF shops with a standard dictionary, and typically get "hits" on 
15-25% of the userids. Testing several thousand ids for all the words in 
the list can take a few hours. Having to test for mixed-case passwords 
makes this attack a lot less useful. 

Here are some lists we typically use (see your password?): 
http://www.goldisconsulting.com/dictionaries.htm

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