Would depend on the quality of the keying feature.... looks like a good idea. Certainly would send thieves to the next bike.

Of course if the keys are all the same, once a thief has one, then the system is ineffective.

The other hassle is having to carry the keys. I can't help wonder if a "set" could be keyed to one master key.

Of course the flip side argument is to get rid of quick releases and simply bolt everything on.