I've spent a bit of time looking for this ring. I've looked all around both sets of bones after crossing the rock ledge but still can't see it even with light sources. I did get a piece of armor and some coins from the second set. Would the LGNPC or MCA mods alter the ring location? I know one of them adds an NPC in that cavern so the cell does change somewhat.

Clarification: by both sets of bones, I mean there's some in a cluster of shrooms as soon as you get into the big cavern after the ledge and a second set with shrooms and what looks like rotten logs or shattered rocks just past the first set along the left wall. Both sets have parts of ribcages.

http://s161.photobucket.com/albums/t213/yogibaar/?action=view¤t=ThiefRing.jpg.

If it's not there, it's probably due to mods. I have no content mods apart from the official plugins and the unofficial patches (MCP + MPP).

Thanks, that helped. I just must have kept missing it every time I was at that spot or was looking from the wrong angle.

The reflection on it either shows up plainly or not at all, depending on distance. One time I'll spot it without even trying, another time I'll need to move around and look from a different angle to see it, even though I know it's there.

I was surprised that it was more visible in the screenshot than in my game.

Hm, I do have the MCP enchanted item reflection patch active, would it be more visible in the vanilla game?