When airlines can 100% guarantee that my camera (1 body 2 lenses so not excessive by any means) and laptop will get to my destination undamaged and all present only then would it ever go in the hold. My camera bag will fit in the overhead bin on all the types I regularly fly on inc Embraer 135 / 145.
Airlines encourage people to bring as much as they into the cabin by charging for hold baggage. Yet always state not to put valuable items in the hold - catch 22.