This is incredible.
But ABSOLUTELY press charges. The fact is, had it not been for some over-reaching search (and something that would undoubtedly never happen here... you would be the one getting sued lol) you would never see it again and he would have gotten away with it!
Teach him (and his parents) a valuable lesson: there are CONSEQUENCES for stealing. If you let him get away with it, he'll just do it again, and next time he'll only be smarter.
Throw the book at him, and maybe he'll think twice next time.
(Or maybe he'l turn into a hardened criminal drug lord that will haunt you forever... but at least you have good health care up there!)
Seriously though, go nuts. I would. It's not about revenge, it's about right and wrong.
----------
I have posted this somewhere else, I will post it again here.
If you lose iOS device that have iOS 7 installed and find my phone enabled, don't give up. Sooner or later the person who finds it or the thief is going to get your message with your contact details. The person below in a story, who bought a stolen iPad Air on eBay got the message from the owner when she was trying to activate the iPad as a new product.
This is true for the most part, but lately the gig has been PARTS. While it is a lot harder to work on an iPad, parts aren't cheaper, and just because the logic board is locked doesn't mean anything else is.
It's sad, but most stolen iDevices are probably gone forever.
Still worth a try, and the story was (and is here) great, but they are the 1 in (probably) 1000.
Be safe out there people... I tell my wife that if she wouldn't put a stack of hundred dollar bills where she puts her phone, don't put the phone there either!