Karma is a shit system and I'm not sad to see it go.
Bethesda should grow some balls and build a smart NPC gossip-based network where the reputation hit or gain from an action depends on how many people see it. Kill a nomadic family in cold blood? Zero hit to your reputation. Get caught stealing from an NCR officer? NCR reputation hit, no hit outside of that. Get caught stealing from a little kid? general rep hit.
I want stealing in rpgs to be revolutionized around a similar idea. Its kindof driven me nuts, in like every rpg ever, you are a ridiculous thief. Richest adventurer/hero in the world, and you barge into homes and pick up everything not nailed down, take all heirlooms, etc.. Games then add "stealing", but that is completely meaningless.
Two basics i want in these games.
1. A "perception" based marking on stolen items. When stolen, an item will marked from where it was stolen from. Trying to sell it back to its own owner will have a low DC check of perception/lore/bartering for them to ID it as stolen and call guards. Selling it to others in town, a slightly higher DC check. Selling to other towns entirely, even higher. The base DC check should be rated on the value/mundaness of the item. Aka, people will know a painting was stolen much easier then a piece of cheese. And of course since its checked by a vendors perception etc, there are better/worse ones to sell to.
2. NPCS NOTICE when things are taken. again a perception check every time an npc looks in the direction of a missing item. More items missing, more likely to notice. When noticed, calls guards based on value of item, and has all around negative impact. too much stealing in an area, entire town raises prices, has increased guards, spends more time checking their items, adds locks to chests, and traps, etc. when an item is noticed missing, selling it DC also goes up. And word spreads. your rep in other towns goes down, and they too start locking things down, and you lose rep as they notice things go missing when you the famous hero are in town..