I found the info about this but it's written in a way that I find very confusing because of the terms used. I might be able to translate them to variables I understand if I know what the terms of the variables mean, and I assume people who mod are familiar with these terms.

Source: http://www.gamesas.com/topic/1097214-gameplay-mechanics-anolysis/itemValue

When Hrnchamd was fixing Pickpocket for the Code Patch, I think he shared his notes on how and why it didn't work as originally intended.


I have no idea where that info might be now (buried in one of the MCP threads,) but maybe it will remind someone of what he had discovered.