Uglification to Deter Theft: Functional, but less satisfying?

Make Magazine has an interesting method to deter bike theft: uglify it! They offer step-by-step instructions for how to make a bike look decrepit but still work like new.

But here's where we witness the blurred line between form and function: though it make work fine in every functional way, an ugly bike just isn't as satisfying. You can't show it off; you don't get that "wow" feeling when you yourself look at it. Much like the previously-posted scratched putter, it messes with your mood and your overall state of mind. Sure, it won't get stolen - but it might not steal your heart anymore, either!