What's a Capstone?

What I think Capstone is, is a project that shows what you have learned over the years of college. What would make it a real capstone is if its not something that you would do for a class project but something you would do for a real job. What I hope to get out of this is a project that shows that I didn't waste my time going to school. The school probably wants us to work on our capstone so we don't wait to the last minute doing it and come up with a lame capstone.