Let's be realists. SK is a huge world with a rather small playerbase. If it wasn't for locate, there wouldn't be that much PK really as Algon stated.
But then again, I also think this spell is not working as intended(and I think I know how easy it is to locate everyone who is actually doing something by just spamming c lo). Making it not working without arguments won't change a thing, a persistent locater will still find anything and anyone he wants as JVJ said(I know I will - coins, limbs, herbs, steaks, anything).
An idea that will increase lag/cpu cost of the spell but will fix that problem is not to return the 100 more recent objects, but 100 random objects in a random order. If there are only 20 for example(c locate amulet for example), it will return all 20 objects, but not in the order they are loaded in SK but randomly. But that's probably too big of a change with too much cost, so I doubt it will be implemented.
EDIT: I'd also like to add that locate is a very funny spell when spam used also. I have seen so much lameness in SK with that spell, I felt I was doing better work than any Imm spam snooping PCs.
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