Wasn't the weight % to reduce sneak already added?
Because that make sense for you someone come in the middle of a warzone, pick up one or two BA + Minigun and run with all this stuff? This is a game, the game play will be better without sneak looter. ATM some faction (like Crazy Barbarian) makes a lot of sneaker, come during TC and loot a lot of stuff without fighting. Some other use dual log to relog with sneak looter. The loot have to stay in the hands of fight winner, this is the point.
I think picking up items while sneaking should be possible, but it should depend on your steal skill, that way we might actually see thieves in unguarded towns.