fwiw (and for comparison purposes), among my locks, I've got an On-Guard Pitbull mini that I have been able to wrap through the rear wheel, frame, pulled front wheel, and tube-style bike rack. It was a tight fit and I had to wrestle stuff into place. It definitely took some time. and the on-guard mini is a bit wider than the Krypto mini.
but like Andre said, there's no such thing as excessive locking.