I don't really take it up myself. By the time my lockpicking ever gets that level (I'm fairly decent at the minigame, I usually don't put any perks into the tree past Adept Locks), I'm probably drowning in gold and enchanted items. I don't need more crap to add to my mountain of riches.

Go for it, especially if you plan not to go for the Enchanting skill tree. You can find more enchanted items and need to depend less on luck with the Treasure Hunter perk.

With Enchanting and Alchemy maximized plus various perks (and by creating a 32% enchanting potion) can one create Smithing gear with +29%. This is only 4% better than items labeled as Peerless (i.e. Ring of Peerless Smithing +25%). Some enchantments found in loot can be better than what you can create yourself, too. I.e. the Necklace of the Firewalker gives a 70% fire resistance. The best one can enchant is 53% fire resistance. Boots of the Mammoth give +50 to carry weight and the best here one can achieve with own enchantments is +43. Only when you go for double enchantments do you get a noticeable benefit from the Enchanting skill.

In short, you can find some pretty cool loot and not have to worry about missing out.

If you like it, do it. But at a certain point money becomes unnecessary. I've never amassed the kinds of coin that some people do. I think the most I was every carrying around was something like 45K+. BUT, I did have at least 250K worth of stuff stored in my houses. So it seems like taking the perk(s) can get you money quickly, but so can enchanting and smithing. You just have to work at them a little.

Speaking of smithing (materials), I need to get to Blackreach.