Cycling Plus said in their latest lock test that the Abus Granit 54 was "the best designed U-lock we've ever tested".

The problem with the Kryptonite for those of us in Europe is that the shackle is really small for European poles, making it hard to find something to lock up to, The Abus Granit 54, which was made for the European market, has a bigger shackle making it much easier to find something to lock up to.

EDIT: Make sure to search around the forums for some more ideas on cycle security and locking methods. Pitlock locking skewers are quite nice.