I want a lock slot. I do use it with my old PBG4. I'm more paranoid that anyone I know. Sometimes I lock it while at a meeting or event, just in CASE I get up to talk to someone and forget! Kind of insulting to everyone else in the meeting, who presumably would notice if someone walked in and grabbed it
However, I also often just pick the laptop up when I go anyplace--and that will be even easier with the Air. I can deal with that. In fact, my lock cable is one of the most annoying extras I have to carry around. Being forced to leave it at home will in part be a relief!
I hope someone makes a lock cable that attaches to the rear vent though. It would have to attach in a slim, rear-facing way kind of like the Air's magsafe plug.
If nothing else, I'd use that to lock it to my car, as an added precaution when stopping for groceries etc. Hiding it is my first defense, but a lock to slow a thief down would be nice too. I can generally find some kind of loop or structure in any car's trunk that I can lock to.
Another defense is that my computer is named: "Wireless Theft Tracking Activated" and the screensaver shows that
And the password hints all give my phone number to return it to if found by someone other than the thief.
As for bag-grabs, my preference is for a laptop bag that doesn't look like one to attract thieves--and which is distinctly colored, making a getaway feel riskier.
A lock cable through the handles of some two-handled bags could slow someone down too--if the laptop can't be removed without ripping the handles apart.
But the best security I have is a cereal box and a cloth grocery bag. No matter how heavy those Wheaties seem to be, I've never had anyone try to take them
I just remove the box bottom and slip it over my PowerBook. Hidden in plain sight.