Thanks for the various responses. I'll cogitate on them. I definitely like anotherkiwi's frame lock as a permanent base level security. And Nealh's good bike/crap bike twosome is something to think about long term; maybe I should convert my late nineties cheap lump of cromolly. I need to find out how Kryptonite works and if they really do pay out for stolen broken locks or if they're t***s like insurance companies. Good idea in theory though.
Also...just realised that the lights I've put on my bike are easily nickable because they just strap on with stretchy rubber bands.