I think the time for saying Buenos Aires is "as safe as any other large city" is over. Buenos Aires in my opinion is far less safe than a large city such as NYC, London, or Paris but is still safer than Jo'burg, Mexico City, or Rio.
Pickpocketing and petty crime may be on par with other cities, but violent crime here is on the increase and although tourists want to ignore it, it is an issue. Fortunately for the Ministro de Turismo, so far no foreigners have been the victims of the previous few weeks headline crimes, which include:
1) The Carolina Piparo (I think that's apellido) assault at the bank in La Plata -- she was heavily pregnant, a week before due date, shot in the chest, her unborn child has died and she still seems to be in unstable condition.
2) The taking of various hostages in a building on Araoz and Soler -- one block from Scalabrini Ortiz in a very touristy area. Delincuents assaulted the doorman (actually woman in this case) at 7am and entered the building, taking hostage various residents of the building and resulting in a police standoff that lasted more than 6 hours -- it was on every news channel so don't know how anyone could have missed it.
3) Yesterday in Caballito three assaults in 8 hours -- at a quinela, at a church, and then a large group of men entered a parking garage and stole a number of vehicles (Caballito is not much of a tourist area for those of you panicking)
4) Yesterday the MacStation store in Prime Tourist Area of Palermo Soho was robbed -- two delincuents entered and threatened staff with weapons, in the end one of the them was shot and killed by a policeman, the other ran off and escaped.
5) Yesterday the hostages taken first thing in the morning on Arenales, as mentioned by a previous poster.
And these are only things reported in the news, there are always tonnes of cases of people being mugged, having their cars taken at gunpoint (my husband had his taken by 3 guys with guns pointed at his chest and head a few months back), and tonnes of petty crime. Abasto Shopping is terrible for this -- wait at the taxi stand out front and you're almost guaranteed being robbed by someone.
I don't know what cities you people are all from, but I don't think in NYC you're getting hostage takings and assault with weapons that you get here on a daily basis. NYC is actually ridiculously safe these days. I've certainly never encountered a guy with a scope-mounted rifle in NYC, and I have come upon one here when we were headed off the Riccheri past Villa 31.
I've also never lived in a city where almost everyone I know who lives here permanently has either been directly affected, or had a loved one directly affected by a violent crime or a robbery at gunpoint.
In fact the last time that I lived in a city that had daily occurences of violence reported on the news was London before the end of the Troubles -- and that's because there were still bomb-threats going on all the time, most of which didn't even result in more than a threat by the time I was living there.
You can walk around here and be fine, that's true. And probably your perspective on how "safe" Buenos Aires is won't change until you yourself become the victim of a crime, but this city is facing a growing violent crime problem and to say it's just as safe as any large city now needs to have some clauses attached.