Capitol Fishing Tackle-as it now calls itself, having dropped its trade in cutlery back in 1976, though not the neon sign advertising it-occupies a long, narrow space on West 23rd Street, tucked between Chelsea Healing, an acupuncture salon, and Dan's Chelsea Guitars, on the ground floor beneath the storied Chelsea Hotel, where, in Room 100, Sid Vicious of the Sex Pistols stabbed his girlfriend to death in 1978. Chelsea is a strenuously bohemian, shabby-chic downtown neighborhood, and thus, perhaps, not the setting in which one might expect to find New York City's oldest and most democratic bait-and-tackle shop. Which is to say, this is not a neighborhood that seems starved for split shot. It may be the only tackle shop in the world, one guesses, where men in mesh tank tops strolling by hand in hand do not warrant even a mild second glance. In Chelsea, nothing is surprising; except, perhaps, the presence of Capitol Fishing Tackle.