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While it has a poetic name, most of the thieving activity has moved to the nearby Khlong Thom Centre.
Khlong Thom is worth a look if you are in the market for car parts or stereos, some of which are bound to be legally obtained, north on Chakkrawat Rd one block.
Meanwhile, the Thieves' market nowadays incongruously sells musical instruments, obscure and interesting looking industrial kitchen equipment, and faux antiques side-by-side.
If you are in the market for a set of bongos and a hydraulic coconut press, this is your place.