Paul:
It would be fun to stare at the car while calling the insurance and tell them that your wheels are missing, meanwhile you're immobilized. If they're going to steal it nothing will stop them, but most of the time these crimes are not well planned and the security lock is just a simple deterrent.
Here's a picture posted by member Trieullionaire... I wonder if he got the OEM security lug custom chromed by a shop.