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@cookiesdonniedarko
I have had two bikes knicked, and it certainly isn't pleasant. In fact scrub that, I hate thieving bastards.
The second time I had my bike nicked was in the university bike lockup, told the security guard and his response was ... "Fill in this form".
I now have some old ratty looking racer that though it looks shite, it still runs dead quick though. I just have something that doesn't look like it is worth nicking.
EDIT: As velocity boy said, Heartbreaking stuff.