I'm worried cause I had a misdemeaner when I was 19. Now i'm 26. Currently permenant residence.
Do not even consider filing any application with USCIS without first talking with an immigration lawyer, a good one. Also, make sure to show him/her all the paperwork in respect to your criminal case. Otherwise, not only your application for naturalization would be denied, but also you will be deported.
By the way, what kind of theft you are talking here? Was it a shoplifting? Which state it occured, what was the conviction, is this occured before you obtaining LPR or later?? You have to give a bit more information to evaluate your case....
And yes, there was a case more than two years ago wherein a woman from NJ was able to get approval on her shoplifting charge/conviction. I challenged her that her approval was a mistake on officer's part because shoplifting is a crime of moral turpitude and a ground for deportation. Do not forget that sometimes officers do make mistake. Other than her case, there was never an approval I've seen in my life in a case of theft unless that crime was committed before 1996 when laws changed in this respect. If you visit many lawyers' sites, you would see them advising immigrants to proceed only after talking with lawyers. Mrs. Murthy's website is one of them...
http://www.murthy.com/
Anyway, we are just beating the drums without knowing your specific situation in respect to the criminal case. So, without knowing more facts, I personally cannot comment on it...If you don't feel talking over here, I would suggest you to speak with at least 4 very good immigration attorneys to decide if you should go ahead in filing the application or not. Just you to know, whether a crime is a felony or not, it could still be a deportable crime given federal and state criminial statutes...And a crime of Moral Turpitude is a deportable offense regardless of anything....
http://www.nysda.org/idp/webPages/citizenshipAlert.htm
Good luck....