MAC filtering is not secure at all ... and you don't even really need any tools to spoof someone elses's MAC.
WEP, of any size, is not secure. There are scripts available on many of the Warz boards that can defeat WEP without any real knowledge on the cracker's part.
WPA-PSK (pre-shared key, similar to WEP) CAN be secure, as long as you don't use dictionary words or phrases. Break up "normal" words with numbers or punctiation ... mix upper and lower case characters, and make it as long as possible ... you only have to enter once per machine ... paste it to a notepad file and cut & paste it into the client .... this is not rocket science.
If you're inclined to go the easy / lazy route, remember that if you've used a credit card from your machine, it's still available to an intruder (for weeks, months, years, depending on how you use your machine) if they look in the right places, also keep in mind that any damage done through your connection is (at least) partially your liability.
It's easy enough to protect your connection, there's no reason not to. Even 11 Mbps wireless is faster then the vast majority of Internet connections, even if it's "slowed down" with encryption.
WPA-PSK is easier to implement that MAC filtering. If you wanted to use MAC filters, use WPA-PSK instead ... it's easier and vastly more secure (even if done wrong).
FWIW
Scott