I almost had my regular, nonfolding bicycle stolen a few years ago in spite of using a combination of cable and U locks. I felt that the risk of theft was too great in using regular bicycles and invested instead in a folding bicycle. Used beaters and fancy locking devices no longer work in most urban areas.

Always remember that as gas/petrol prices as well as the price of cars and their mantainance increase, so will the value of the bicycle. I am not refering just to the bike's monetary value, but the true value any bicycle offers the freedom from paying outragious prices of gas/petrol stations and public transportation, and dependance on other people's good graces of providing rides to non-car using associates.