GalaxiePete wrote:
Correct. Password is changed. On a college campus it isn't too remote of a possibility that the device could end up on the same network though. It is necessary to enter the passcode to do a lot in iTunes even. Any way to get it off the list on the phone?
I think the bigger problem is that existing backups and purchased content will be on the stolen computer, as well as passwords, credit cards, financial information, etc. And there's no way to remove that unless its a Mac and Find my Mac was enabled on it before it was stolen. In that case the entire computer can be erased remotely.
All computers should have a defined user ID and passcode to get into it. If it does, then only the owner would have access to the copy of iTunes that contained the backup.
Ultimately the responsibility for protecting data lies with the owner of those data. Neither Apple nor any other computer manufacturer can save you from yourself. Most computer manufacturers provide the tools to protect data, but its up to the user to take advantage of them.