You cannot have all the bags checked, as the checked luggage is treated like dirt. I usually travel with $6000 photo equipment, I would not check it even if they pay me.
A couple times gear was delayed, and so the FE team had to wait a day or so for it to arrive, but nothing has ever been stolen.
Nice thing about a Pelican Case - no straps to get tangled up in any baggage sorting gear, and large enough that it doesn't usually get stuck in the corner somewhere.
From a probability perspective, much more likely to get mugged coming out of the airport, or getting hijacked using your equipment in the field - this has happened to our Field Engineers multiple times, but no losses in the airplanes (yet).
You put $100k of equipment in checked luggage, then you probably have some very specific insurance that covers you. If you don't, you are lucky. Most people most of the time do not have anything stolen.
If a baggage handler steals a $3000 camera out of someone's luggage, the airline will totally deny liability.
Here's an article interviewing a former TSA handler who was arrested with more than 80 stolen cameras and other assorted electronics in his home at the time of arrest. http://rt.com/usa/tsa-stealing-from-travelers-358/