Velocio
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To put that in perspective, although only a little, grinders are very rarely used for stealing bikes. It does happen so it's small consolation if you are a victim, but it is very rare. It's a somewhat different story for agricultural and industrial kit, but for bikes it's a better situation.
There is also a huge difference in capability between mains powered grinders and cordless grinders, with the latter often getting low on battery power and especially so with cheaper cordless tools and with the thicker chains etc. There is another huge difference across different cutting discs, and again, another big difference when cutting things that are not held in a vice - the thicker materials/deeper cuts get more dangerous anyway and especially so if the parts are not held very firmly. Trying to keep chains etc off the floor and to obstruct access to them does make it a little more awkward for you, but it also makes it a lot less appealing for a thief with whatever tools.
At the end of the day thieves don't want to get caught so if you want to keep it more than they want to nick it, you will hopefully keep your stuff.
I think it is a shame when thieves muck up the lifestyle of law-abiding people, but it does happen and I suppose it's a case of minimising the disruption & worry. Of course, not riding the Mather to work may mean it's left at home where you won't be able to respond to an alarm going off, and thieves are potentially able to work indoors and out of sight. If it is a really special thing to you, then having it nearby and multiply-locked as you plan could actually be the best security you can have for it ...assuming it's locked to something really solid :-)
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It's sort of noisy.
And from most of what I've read, you probably need a couple of discs and a couple of batteries to grind through an 18mm shackle. Obviously that's well within the grasps of a really serious thief, but sadly a lot of this is about being harder to steal than the nearest equally valuable bike.
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Pragma
dmnc
Just a quick anecdotal plug for the Kryptonite New York M-18.
At Highbury & Islington station this weekend I saw three uniformed police officers using bolt cutters with handles well over 3 feet long to try to remove one.
After 5 minutes my bus arrived and I left but they had succeeded in nothing but working up a sweat. Definitely requires some serious machinery to remove.