I tend to agree with the folks who think the probability of gear theft is low. I fabricated these security cables for my Ortlieb panniers several years ago, and used them only once, when I left my gear unattended for an extended period at a campsite. I removed them a few years ago to make adjustments to my panniers, and never put them back on.
We stopped for lunch at this diner in Cleveland, Ohio, and locked our bikes outside. When we came in the server told us to bring them inside because "they will not be there when you go out." We did. Situational awareness helps a lot.