Hide in Shadows and Move Silently are less powerful in Book II than in Book I. In Book I, Hide in Shadows was actually overpowered, where you were essentially invisible in many situations, and if you lost your hidden state, a simple step to one side or another could most often regain it.
Rogue is still a tough character class to play in Book II, though with the weapon feat, Piercing Weapons are much improved over Book I. For pure damage, I think they're actually the second most powerful melee weapon. Be sure to get the skill to 10 by level two (save two points at character creation so you'll have 5 at first level up) and you'll have a reasonable hit-and-run ability like a good rogue until you can get your other skills up to optimal levels.
Kill 'em all, let the sysadmin sort 'em out.