Look at some of these videos. The cheap locks and cheap U-Locks are easy to defeat. The NY Faggetaboutit is not a practicle target and they won't bother with it. I use that on a $750 bike in a risky area for months now without any problems. I also have a thick cable go through that plus both rims and post.
http://www.youtube.com/results?searc...rch_type=&aq=f