I think a point of AG's post (and i'm probably transfering, here) is that in times of offensive prowess, steals die.
This makes sense: the value of an out is too high to make the potential for a CS worth it, in many situtations. This means that SBs should be 'global' setting, but one that is not independant. Unlike power, etc., SBs are someone a player choses to try when given the opportunity. A rational player (or, more likely, a player who will be kept on the team of a rational GM) will not steal if their rate of sucess is below (in today's baseball) ~72%, and then they merely break even. A significant SB % would be >80, and not too many players can do that too often. As a point of reference, Vince Coleman clocked in at ~81% for his career, and the Elder Tim Raines at ~85%. This is good company, but rare air.
*edit: Kenny Lofton and Marquis Grisson are both at 79%, Biggio at 77%, but Tony Womac (who can barely get on base enough to steal) is up in the clouds at 85%ish.