This is why I personally haul a good U-lock with me, and leave the chain locked on the rack I lock the bike up at home [1]. I wonder how a good U-lock will fare in this test... but U-locks have a different attack method.

Depending on the area of Austin, public view of a bike may help, may be absolutely useless. One area of town, a thief can be happily crunching locks off and absolutely nobody will care. Go to another college in town, and the police department will demand a very good explaination from someone merely carrying bolt cutters on campus in 30-60 seconds.

[1]: Don't do like me and leave the chain unlocked on even a fenced in courtyard rack...