That's a problem with the NY-F lock, since it's so small. I prefer to lock the frame and the wheel because some thieves might mess with my bike if they thought "oh, I'll get everything but the rear wheel, sweet," so I use a bigger lock that can do it. Also, a rim, tire and tube don't represent much of an obstacle to, say, a cordless recip saw. Amazing what you can cut with those things

Regarding the cable for securing the front wheel, seat & post, it's a good deterrent.