Thank you all for the quick and informative responses.
I have tried removing the front wheel to place it next to the rear. However, the bike racks on campus are really thick like the one pictured below, and my regular sized (not a mini, but nothing huge either) u-lock can't get the frame AND two wheels.
I am not sure how the pitlock skewers work, but it sounds like it will be one more step. I don't mind securing these to the seat, as that won't have to be constantly locked/unlocked.
I am willing to risk a little security for convenience (Not only in my bike rack, but also at the airport....but I'll skip the politics debate in an online forum....we all know how those turn out). I wish the u-lock would be smaller and lighter. Even if it would mount to the bike, it would still be a complete eyesore. If I am stuck with just the u-lock, which wheel would be best to lock up? Almost 30% of the bikes use cables, and a handful aren't even locked up. Although I do have a nice bike, there is almost always one that is nicer. With these things in mind, combined with me always parking my bike in the spot with the best lighting/foot traffic regardless of time of day, I feel that a u-lock will give me piece of mind. If I were a thief, it would probably be best for me to go someplace else, or at least jack a different bike. Library security overlooks the bike rack through its main window, and there are much easier targets. Even though this is a college campus, I do not feel the "large risk factor" plays effect like it would at a state school.
Just thinking of a single u-lock only setup, but where I can only chose to secure one wheel, which one should I pick?
Thanks again for all your replies.