I tend to view lost of camera to snatch theft to just be part and parcel of life heheh.. Now before you go crazy....let me add that we read about things like this happening like quite a bit in newspapers or forums but really how often does it really happen. Sometime we are reading the same story over and over again ( appearing in the various magzine or media) or you get expose to it so often you start to think this happen so often like an epidemic heheh.
I have been lugging all my camera gears with me for almost 20 yrs now and a good part of it I had F3, F4 and F5 with lens as long as the 70-200 zoom and as many as 8 lens at any one time. I never have any issue. I have LOST them my silly self but nothing has gotten stolen.
It is also how you go about doing certain things to begin with. Unless I am shooting something specific like a wedding or some official event ofr my company...then I would use a camera bag. But if I am travelling or on walk about shooting, I use a very normal looking haversack. I cushion parts of the interior with just enough padding without making it look bulky. I pre-select what lens I need to bring and then try to cut down further on them for my short list. I try to alway just have up to a maximum of 3 lens with me maximum. I will then chuck the whole lot into the haversack and go walk.
I sometime walk with the camera in the bag and only whip it out when I need to shoot or I might just hang the camera sling around my nexk and just walk with the camera held on to with my hand ( camera position in the front of my body )
Weight is relative and I guess I am one of those who look at it this way. Good shots equal bring more gear. Less gear equal less nicer shots. Now when I say "less nice" it has many meanings... without a tripod you can't take night scene in long exposure, with non fast lens you might have to take with slower speed or with flash or higher ISO...etc things like that.
So there are decision to make when you want to take photos on holiday. Some of my trips especially short ones, I have brought more camera gear with me then clothing heheh.