EVer since I started to travel with work (1990) I never trusted any airline with electronic stuff in my bag. The first time was between London and Amsterdam and my briefcase weighed more than my suitcase (it had a laptop, an external SCSI QIC-150 tape drive, some controllers, some tapes, a walkman, batteries, chargers etc etc). A pain in the arse if the security guys want proof that the laptop works (it's a clever packing system that let it all fit!) but it meant I didn't have to worry about damage in transit.

That's what I'm more worried about; damage. I've seen how these bags get thrown around and there was no way my laptop was gonna go bouncing like that!!

The last few times I've flown since 9/11 (New York/New Jersey to London and back) I've still locked my check-in luggage. Once I was randomly picked from the line for an inspection. Never has the lock been cut off.