The idea of making your bike the most difficult one to steal is key.
What we do is put PitLocks on the wheels of all our bikes and then lock them with a U-lock to a substantial bike rack or object through the back triangle or wheel using the Sheldon Brown method.
This has protected two nice road bikes for the last three years at a major metropolitan university with no issues. Bikes have been stolen from right next to them and no problem with ours. U lock is the orange Kryptonite U Lock. Pitlocks are on front and rear wheel, seat and stem cap.
J.