Hi,
I have one. Where I live the bike theft is not so bad and it was probably overkill but I used to live in a place where ANY bike (that included a 10 year old 3 speed) would get stolen inevitably, so when I decided to get a decent bike I bought the lock.
I cannot say whether or not it saved my bike but I do feel that it would be really hard to steal it. it also comes with some warantee. The only real problem with it is that it weight tons (almost more than the bike).
PB