Is the Wheel Lock a Useful Feature?

Yesterday I mentioned not being a huge fan of bicycle wheel locks (or "cafe locks"), and so I wanted to elaborate. Most typically used on transportation bicycles, the wheel lock is a circular contraption that is installed over the rear wheel, with a metal latch sliding through the spokes when the key is turned. The wheel lock immobilises the bike, thus making it more difficult to steal - especially if the bike is heavy. I thought it was a neat idea before I owned one, but the Axa wheel lock on my Pashley annoyed me so much that I eventually removed it. The older model on my Gazelle works much better, but I am still considering getting rid of it.

Here are the pros and cons of the wheel lock as I see them (and your impressions, of course, might differ):

Pros:
. It's useful as an extra lock, for those who like elaborate lock-up jobs.
. It's useful if you're sitting in an outdoor cafe or a park bench, with your bike within sight.
. It's better than nothing if you forget your main lock.
. It's better than nothing if there is no structure to which you could lock your bike.
. If you live in an extremely safe area, you might be able to use it as your only lock - which would eliminate the need for a bulky U-lock or cable lock.

Cons:
. Its theft prevention effectiveness is limited.
. It is heavy (like having a U-lock permanently attached to your bike).
. If it jams in the "on" position, your bike will be immobilised.
. Some models are difficult to use and can hurt your fingers while you fiddle with the lever.
. Once installed, you must lock it every time you leave your bike. Otherwise someone else could lock it and walk off with the key. On most models, it is impossible to remove the key in the un-locked position.
. You can break a spoke if you forget that the lock is activated and try to forcibly roll your bike. Likewise, a passer-by can break a spoke if they try to give your locked wheel a spin with their hand.

Do you have a wheel lock on your bike? If yes, what make and model, and have you found it useful?