"I'd like an inflatable version of the Kryptonite Fahgettaboudit"
I wonder if there would be any future for a 'pac-a-mac-bicycle-cover' (not see-through).
As has been mentioned above, deterrence is an important part of locking. If a thief can't see what sort of bike it is, whether it has q/r wheels etc...
Also solves the wet saddle problem!
What price super strong/light 'space blanket' type material in the right size??
(would need a few holes in potential locking positions so that the cover didn't get stolen!)