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Decapitation causes an immediate reduction in blood pressure, this leads to unconciousness, so there is no "view from the bucket". A drop in blood pressure is enough to cause fainting, and fighter pilots must wear G-suits to compress the lower limbs and torso, preventing the fall in blood pressure at high G that again causes loss of conciousness. The guillotine is therefore both cost effective, easy to implement and humane.
Capital punishment, however, is wrong.