Sometimes I just lock my crank arm to a fence with my u-lock through the chainring.
Seems like removing all the chainring bolts and the pedal (assuming the thief isn't carrying around a BBT-5 to just pop the crank off) wouldn't be any faster than just cutting the lock to begin with.
Still though I only do that when I'm jokin' around and just getting a tequito from 7-11 or something.