Yes, absolutely. If police attend and the bikes been nicked without a tracker, then there are little to no lines of enquiries left once ANPR and door to door/CCTV has been done. The enquiries aren't likely to bring your bike back but can show what direction the bikes gone, whether it was in convoy with any other vehicles, description of the thieves, etc. If it is done by an organised gang, then its likely that it will either have its plate changed or be stripped for parts fairly quickly after its taken as they will have organised chop shops ready to go.

On the flip side, if its being tracked the chances of finding it go up pretty quickly especially if the tracker is well hidden. Usually the thieves leave a vehicle for a couple of days in a random side street for a few days as others have mentioned which makes it easy to recover if a tracker is indeed fixed. We had one last week which was taken, driven down a motorway for 30 mins and left in a side neighbourhood and it was recovered by a neighbouring force within 5 hours of it being taken.