Will my device's location be shown in Find My iPhone if it is connected to iTunes?
Set it to Lost Mode on https://www.icloud.com/#find 

If anyone ever tries to reset the phone it will have to go online to activate.
At that point, Lost Mode will kick in [possibly with a location] 

The phone is a brick to anyone else, without your login details. 

Don't erase it remotely, send a message to it, perhaps informing the current "holder" that it's locked &amp; how to contact you or the police to report they "found" it.

Thieves are finally getting the message that stealing an iPhone is pointless. Thefts are down 40% from last year.