[Professor]

I have gained access to many things that would be otherwise hard to find (weapons, spell books, restoration potions, and the like).

Even if you get garbage, you can sell it (avoid selling the rarer items back to the NPC from whom you stole them).

My party's AC, buff-ability, and combat skills were all enhanced by the pickpocket skill.

Mind you, I have applied no patches. I understand that the patches make pilfering more difficult.