Camera question

I have a very expensive camera (which is an important part of my travel enjoyment and would rather not have to substitute a point-and-shoot in its place), I've heard many cautions regarding cameras in the Italian cities. How dangerous do you feel carrying a camera would be, considering that I'm a rather vigilant person and would never put the camera down. I've even considered (after reading some "cautions") purchasing a camera strap that is "theft-proof." Are my concerns overblown? Has this been a problem for previous clients? I've also read not to leave a camera in your hotel room...I appreciate your opinions on this.
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