The quality of captured wild pets is random. As of patch 5.1, upon entering a battle the Pet Battle UI shows the quality of a wild pet (idicated by a color-coded border around its icon). If you're farming a specific quality, if you forfeit the match your team will incur a small damage penalty (roughly 10%). There is no accurate way to determine a pet's quality prior to the start of a battle.
Only really to expand on Gráinne's comment as regards the 'collecting' and 'roster development' sections - which are, as said 'distinct' although they are intrinsically linked - I would like to point you in the direction of the in-game Achievements > Battle Pets > Collect tab. There are a series of achievements called Raiding With Leashes, pretty much all of which can be completed via the auction house - if you have the gold/inclination - or by completing old raids.