No they don't. Once the cable is cut (which is relatively easy to do) the padlock is irrelevant. That's my point-- there's no reason to use a $200 padlock on a $10 cable. It doesn't get you any extra security. (Yes the U-lock requires different tools, but that's not what we're talking about.)

Sorry, this advice is much costlier and no more effective than the well-known standard method noted above, where you use the U-lock to secure the frame and rear wheel to the rack, and run a Kryptoflex cable through the front wheel and the U-lock, or another disc lock/padlock.