Well, I watch my local Craigslist. Stolen bike pleas are mostly a) bike was cable locked and b) bike was a fairly expensive new road bike. You will see bikes that have been left for months with bits stolen, but it takes a long time for that to happen. The bike will rust out first. And some bikes, like Roadmasters and Huffy, will just *stay*.

The lights I use are cheapies, so if someone walks off with 'em I'd be a bit confused and get new ones. I wouldn't be so sanguine if local thieves were less picky. If I do go for better lights someday, a generator hub is high on the list. Harder to remove the lights.