In this paper, opportunistic cooperative amplify-and-forward networks in conjunction with three different adaptive policies, namely optimal simultaneous power and rate adaptation (OPRA), constant power with optimal rate adaptation (OPA) and truncated channel inversion with fixed rate (TIFR), are investigated and compared in terms of Rayleigh channel capacity where the source adapts its rate and/or power level according to channel conditions while the best relay simply amplifies and then forwards the received signals. Furthermore, the effect of diversity combining on the network is studied by investigating two cases of maximal ratio combining (MRC) and selection combining (SC) equipped at the destination. To this end, the mathematically tractable form of the upper and lower bound of the end-to-end effective signal-to-noise ratio (SNR) is provided and then used to derive the closed-form expression of the Shannon capacity. Our results are verified through comparison with Monte Carlo simulations in some representative scenarios where we also illustrate that, among them, for an arbitrary number of cooperative relays, OPRA slightly outperforms ORA, which, in turn, outperforms TIFR.