My iPad was stolen from my house during recent break-in. I was able to get a location once they hit wi-fi and I put a remote lock on it and have it so that I will be emailed the location - which I got on the first hit. Should they unlock the iPad and reset it to factory settings - will I still see it listed as a device or will that disappear because it will be reset?
These links may be helpful.
How to Track and Report Stolen iPad
Reporting a lost or stolen Apple product
Report Stolen iPad Tips and iPad Theft Prevention
How to recover a lost or stolen iPad
How to Find a Stolen iPad
Apple Product Lost or Stolen
Oops! iForgot My New iPad On the Plane; Now What?
Change your iTunes (Apple ID) password along with any other password that was stored in the iPod. If any passwords are associated with credit cards, contact the CC company and get your card replaced (with a new number). If any passwords are associated with a bank or any other savings institution, contact them also and discuss approprate action with them.
The "Find my..." function is pretty much useless if the device is in the hands of a thief. All that is necessary is for the thief to connect to any computer with iTunes and "Restore as new."
The only real protection you have is with the personal information on the device rather than the physical device itself. This requires action before the device is lost/stolen. If the device has significant personal information, it should have a strong 8-digit (or longer) password AND be configured for automatic wipe in the event of ten consecutive incorrect password entries.