That will only keep the honest people honest. It takes about 1 minute to unplug the wires at the back of the switch and replug them to make it hot. It also does nothing to prevent the light switch from being turned on, which the kids also like to do.
The army's method of the chain from the seat bracket through the steering wheel works, although that is only as good as the pair of boltcutters used to defeat it. The aircraft cable used on the Iltis was better...combined with a good padlock it was much harder to cut. The plastic coating was nice as well, since it prevented the scratching of paint like the chain would do.
The locking of the steering wheel also prevents simply towing away the vehicle with an a-frame or dragging it onto a trailer, provided the wheels are locked in a turned position.
I have a simple keyed ignition switch on my jeep, and again, it keeps the honest people honest. I doubt it would even slow a real thief down.
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