Cables keep the grab and run types from stealing your bike! Singling out cable locks is not honest. First of all the snatch and run types dont carry around a large pair of cable or lock cutters. Second a bike thief will carry a battery powered cutting tool, and no matter what kind of lock you put on it can cut thru and cable or lock in less than a minute.

As someone suggested a cable of any sort will keep the semi honest bike grabber honest.