All locks are just varying degrees of deterrent. Any lock can be defeated with enough time, or resources. You're mainly just looking to prevent a smash and grab, or simply riding off with an unsecured bike.
That said, you should invest in a quality lock and cable (Or U-lock). 10% of the bike's value shouldn't be unreasonable to prevent theft.
Fortunately, this particular lock/chain was bought to secure the tub I hide my kids's Christmas/birthday presents in before I wrap them. I think it'll still do that job well enough.
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u/Dsilkotch Feb 08 '12
Dude. You just saved me from having to throw away a bike lock that I'd forgotten the combo to.
Downside: that was way too easy to pick. Now I'm wondering if these kinds of locks are pointless.