Really? I find the Stealth to be quite well balanced. Its not great (at all) at early levels, but once I hit level 50ish, had 7 agility, lvl 4 in archery/knives/stealth/light armor perks and most of the appropriate books, I was able to completely (except one occasion where I completely missed a cop zombie hiding in one obscure corner) able to stealth my way through the huge Shotgun Messiah building, and 1-shot kill everything except the radiated bikers/cops/fatties on the very top floor. This was using mostly leather/military gear, all with advanced mufflers in them, and without yet having the military stealth boots.
Once you have found most of the Night Stalker books, most of the smaller POI looting is even easier at night than it is during the day. Sure, you're probably dead if you screw it up, but 1-shots and stealth are even better at night. Admittedly I up the gamma to 60 instead of 40, so maybe that's a little cheaty, but hey I justify it by the fact that if you are genuinely a 'Night Stalker' you would have better night vision than most people anyway.