what info? contacts? what will they do with them?
email - you would change the passwords as soon as you lost the phone, etc, as for banking apps they all require a pin to login, etc.
imo very likely to get the phone back if you have cerberus on it and they don't wipe it, by putting a lock on it, wiping will be the first thing they try to do after they realise it's impossible to get past the lock.
unless you keep stuff like pin numbers and passwords stored somewhere in your phone then theres no issue with them having access to the phone, but imo you would be dumb to have such stuff like that stored there in the first place tbh.
you do know with cerberus you can track it's location? take pictures of the person using the phone? record call logs and view sent and received messages, etc?
it would be very easy to find the phone, so recovering it would surely be very likely once you pass all this on to the police.