I'm all for simplicity.
My macros,
F1: My skill that brings up the target cursor. I use anatomy since it doesn't have a delay for anything that I target.
F4: Steal skill
F7: Last target
F12: Last Object
F5: Hiding
What I do: I find someone to snoop and I double-click their bag so it gets set for my last object macro. I casually walk by them and once I get near them I hit F12 and keep walking a couple steps from them so the bag doesn't close. (or I stealth up to them and snoop)
If I see something, I use my F1 macro (target cursor skill) and click the object to get it set for last target. So I am all set.
What I do now: Hit my steal skill so I have the target cursor open, then either run or walk by them, and just as I pass them I hit F7 (last target) and run for it.
Once the skill delay is up I hide and stealth.