I agree with the general consensus in this thread that chest rewards don't align very well with lock difficulty at all. Furthermore, I also agree that picking locks is very easy, just with the lockpicks I find lying around and with the natural skill increase of picking every lock that's pickable. I usually find my lockpick skill around 75 just from picking random chest locks by the time I'm level 30.
I do wish there was more point to the skill tree, by making the game harder.
I also wish there was more than one lock type to "pick," thus having more than 1 minigame. They already had a funny one for Oblivion, why not throw it in occasionally as well? Add in a third, maybe for combination locks, and you would be in business. Then you could have difficulty, and variety. Perfect for a skill tree.
Lastly, I wish there was an alternative to picking locks. Smashing them, or opening them with magic is a must, I think. However, I don't think either of those should be a "win" button either. Both should also involve a degree of difficulty, and possibly even mini-games of their own.
If you buy lockpicks from every merchant you find...sure...lockpicking can be easy.
But...if you use only lockpicks that you find lying around or only those that you pickpocket from people, then it's not quite as easy. Breaking lockpicks becomes a problem.
Doing it this way I find the perks are not a waste.
It's all how you play the game.
I completely disagree with this. I have never bought a lockpick in my life, and I have 124 right now. I've picked every lock I come across.