bozack wrote:... Didn't see the point of that travel safe unless a knife can't cut through it. ...
The PacSafe has a very strong wire mesh embedded in the tough material cover. Even if you cut all the material away, you wouldn't be able to get anything out that's bigger than about 5" around (equivalent to a 1.6" dia circle, or a 1-3/4 x 3/4" rectangular object such as a cell phone). It would easily protect a netbook, for instance, and most cell phones and Blackberries.
For smaller items like jewellery, or for money or passports, you'd probably want to get a metal case that you'd put inside the PacSafe and put the smaller items inside of so they couldn't be drawn out through the mesh.
We have a PacSafe and used it the last time we were at Desire, locked around the closet rod in our room. We didn't bother with a metal case for the small stuff, but then again, we don't take expensive jewellery or carry a whole lot of cash when we travel. Our passports, credit cards and the little cash we carried were in a leather wallet which would have added to the time and effort needed to extract the contents.
To us, the PacSafe is more of a deterrent than anything. Thieves intent on getting your stuff can pretty much always get it if they really want to, but if your security precautions make it more difficult or not so lucrative to go after your stuff, they're a lot more likely to move on to easier and better pickings.