Most locks are only a visual deterrent. Our yard at work has just been hit, we had expensive £50 padlocks like these
Cut through in seconds with an oxy-propane cuttting kit (they left the cylinders behind).
I suspect even a Kryptonite lock wouldn't last long with oxy cutting gear. You can just cut an alloy frame with a hacksaw and take the bike for the expensive parts.
I've seen Oxy cutting gear carried around in cars ready to be used in crime, with a long enough hose you can have a very quick way of cutting through anything.