| AKSHA |
The feat Step up and Strike (ADV 170) allows a rogue to take a single melee attack at highest attack bonus when successfully using the feats Step up (Core 135) or Following Step (ADV 160).
A hide check can be attempted with any movement so that it does not require an action (Core 107).
Using Following step a rogue can move up to 10 feet along with an adjacent opponent. It is impossible to use stealth while attacking (Core 106), but if the rogue does not attack, a stealth check is possible assuming the rogue can make use of concealment.
The Cloak of Displacement, Minor (Core 507) provides 20% concealment continually.
Based on this combination a rogue should be able to cover 10 feet to stay adjacent to an opponent and take a stealth check providing the rogue does not attack beforehand or as part of the same action.
If the adjacent opponent then provokes an attack of opportunity and the rogue has not exhausted his attacks of opportunity, the rogue then gets an attack of opportunity from stealth at his highest attack bonus.
As far as I can tell this consumes your ability to take an immediate action this turn. You still have your standard and move equivalent actions available. I think you still have the option of taking a full round action. I think you can still 5 foot step in the round that you used the step up maneuver.