We all seem to be debating a factual issue. How are bikes stolen in practice. We all know a dozen or so ways to bypass a lock, but I for one have no idea how common any of them are.
I like in an area with fairly high bike theft, but it seems to be almost all crimes of opportunity targeting poorly locked bikes, and I've had remarkable luck with a mid-range u-lock and just not leaving my bike sitting around outside all day.