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Not really. I'm just defending against the thief that is casually walking along looking for possible targets and hoping that d-locks and cables (and a relatively shit bike) are enough to make him dismiss it and look for another target. The fact my £300 commuter has a SON front hub and a PowerTap rear hub might make it stand out a bit more.
The pitlock skewers should stop the casual wheel thief. But any determined thief who wants the whole bike won't be put off by any of it and will just angle grind the lock off and ride away and deal with the security skewers/bolts at their leisure.
Should have included security bolts for wheels. (Have edited previous post.)
I have them on my commuter and I still also use a cable as a visual deterrent.
If someone spends 20 seconds trying to steal a wheel only to find I've got security nuts on the wheels they may decide to fuck with the bike in retaliation (bend a wheel, snap spokes, scratch it, etc).