Will the shops in Skyrim have all of their products somewhere in the shop? Or at the very least in the shop owner's inventory? Because in Oblivion, you could see some fancy 20,000 gold weapon when you were actually buying stuff, but if you looked around the shop, it was nowhere to be found and if you pick-pocketed the owner, it wasn't even in their inventory. They apparently pulled their store's inventory out of some magical portal.
There probably will be a little bit of "Magical Inventory" for the sake of the random leveled item slots.
But there will also be some static items available to steal as well. (Static may be the wrong word)
If you watch the Quake Con Demo, and the E3 demos, you'll notice Alvor (The smith) has his inventory change each time. Things such as Dwemer Helms and Elven Maces are right out in the open, albeit perilously close to the smith himself, who wouldn't take kindly to theft I'm sure.