Marc's analysis - complete with pictures and video demonstration - along with Targus' own responses to his evaluation is well worth the read. The bottom line, however, can be summarized with this statement: "...the key phrase is 'a modicum of security.' For those readers that are not familiar with this term, the definition for modicum includes small amount, little, bit, scrap, or ounce. This would be an accurate definition of the protection afforded by this product."
What's worse is that Targus doesn't seem to actually care that their $30 product isn't such a great investment and is counting specifically on the average consumer being gullible enough to think this lock will genuinely protect them from the casual thief. Sad. Very sad.
If any TUAW readers have used the Targus iPod lock, let us know what you think.