Oh, of course! Officers should never try to arrest someone in the act of committing a crime. Let them finish up, make their escape and just look them up later. Rape victims and abused wives should especially appreciate this technique.
May I take this opportunity to say that you haven't a clue about what is good police procedure. If your alleged LEO neighbors thought a bank robbery didn't deserve their attention, then I extend that criticism to them as well.
I have been a police officer. I suspect you have not. I also suspect there are reasons the LAPD respond to bank robberies like they are serious, violent crimes in progress. That would be because they are!
Next time you're talking to one of your LEO neighbors, ask them if the LAPD is coming to them asking for advice on tactics and policies. I'd bet a lot of money that they are not.
Now I know it's exciting to think that being a cop is thrilling, but it's not. It's supposed to be tedious and full of personal restraint. It takes almost a super-human to not be reactive when it's our nature.
As for my neighbor cops, they moved to towns farther from Philly so they could eat their dinners in peace. They still respond and still wear out the pen on paperwork. Not a job for many..........