In particular, I am trying to pickpocket keys. Keys have no weight but a typical value of 300 gold. These have been very difficult for me to steal even with a high sneak and security. When I placed several different ingredients in the target's inventory (all less than 1 unit of weight) only the low value items could be taken undetected regularly. The pearl and ruby required several attempts before they could be taken successfully. I added two new keys to the target's inventory: one with a mass of 0.1 unit (in case a key's zero weight was tripping the formula) and one with a value of 1 gold. The latter could be removed with relative ease while the more valuable key usually triggered an alarm.
It has long been a puzzle to me why keys would have such a large value and also be un-tradable. Now I wonder if their high value was to make them difficult to steal, but to compensate for this artificial value they were given no weight to make it impossible to sell (making the essentially worthless). I am pretty much settled on making my keys very low weight (more easily stolen) and low value (as they should be), but I am curious if anyone can confirm or refute my conclusions.