I always try and get to the carousel quickly before they come out, and then stand by the chute.
I've always hated the fact that generally:
1) there is no security to stop someone walking off with your bag (either by accident or design)
2) that if stuff does get lost or damaged, the compensation is so small
This just encourages people to carry too much hand luggage which isn't good for anyone.
A couple of years ago, my mother couldn't see her bag at London Gatwick. Eventually she made a report and went home. Only to get a phone call from someone who had taken hers by mistake. It was an old lady. Her son then drove through the night to my mother's house to return it. The old lady was completely distraught - it was an honest mistake but the poor woman felt she has become a thief. On top of all that they then had to return to the airport to try and find her baggage.