I never even knew what a money belt was until I started on this forum. I had no problem before I joined this forum. When traveling solo, after reading this forum years ago, I did start wearing a leg wallet, but I have stopped due to it not conforming to my present wardrobe and with all the security zippers, etc now on purses it seems unnecessary, if it was necessary before. If I were traveling to some S. American countries, I would likely use one. In Europe, I find I don't anymore, again. I am aware of my belongings and have my important documents attached to me in a purse. I would say if you are good keeping your backpack attached to you while out, then I don't see a problem.
- If you need to check your bag in a museum, just unsnap the RS pouch and put it in a pocket or your wife's purse.
- Cutting the bottom of your pack is possible, but extremely unlikely. Plus, if they cut it, they would also have to cut accurately and unsnap the pouch. All this before you or your wife notice? Traveling with another person is so much easier for security. You won't lose all your stuff at the same time.
- You are going to be in major cities by the sounds of it. If near an embassy, replacing your passport is easier than replacing charge cards or your phone.
- I would never recommend letting someone else carry your passport.
I am the least concerned with my passport, except for the day or so before travel as replacement might hold up my flight. I don't know why people are not more concerned with losing their phone as everything is on it, but yet they are waved around, out all the time for photos where easily grabbed, placed on dining tables, not attached to their bodies, etc. I am very protective of my phone when I travel. I do divide and conquer once at my locations by leaving back up items in my hotel room...but never my passport or phone, Use what you have, but just keep it attached to your body, as you indicate you do.
I would be curious as to what the rate of pickpocketing actually is in Europe. However, this figure would not be able to separate those who are neglectful or careless by the owner versus artistic pickpocketing. So it would not really be accurate anyway...
PS, I use the same bag as Mr E often. It had most of my items plus my phone in it on my Camino. A back up CC and Debit in my backpack.