I see your points, but the points a case lock addresses are: you don't want others starting your system, and you don't want them loading uncouth software. Both of these things could be settled with a bios password + windows password. Why have a physical lock for a crime that isn't physical? If you're worried about people stealing your system, security screws and padlocks are alright. How can a cheap ass lock that the owner admits he can pick protect anything?
Because USB ports are usually still exposed and most people do have an OS password, I don't think loading software is the biggest concern. It's stealing it out of the drive or taking the actual drive. A rail-mounted Blu-Ray drive or a bay-mounted HDD could be very attractive and a lot easier to get away with than stealing the whole case.
As for his cheap easily-circumvented lock, that's exactly what he was complaining about as far as I can tell and exactly why I brought up an even worse one.
FWIW, the case still has to be secured with a Kensington lock or something even with all these measures or comeone could just take the whole damn thing. I've never seen anyone do all of that! Sure, they're somewhat common for notebooks, LCDs, and external drives, but I've never seen anyone put security screws on their notebook (they probably aren't even made to fit) or HDD enclosure.