It weights practically nothing, its cheap, and its very versatile.
I have it permanently mounted on my bike. I run one hoop through the other on the front of the bike (in the triangle between the top tube and the down tube) and coil the rest of the cable around the top tube and velcro the tail end to the seat post. In this fashion its totally out of the way when I'm riding. When I lock up my bike, all I do is uncoil and run the tail end through the front wheel and back to the lock. I don't undo the front of the cable, its permanently looped around the front of the bike.
I find this to be the fastest and least cumbersome way to use the cable.
I also use the cable to lock my bike around larger diameter poles that my main lock won't fit around, but naturally only for short periods.
If your only need is to lock your front wheel, then I suggest getting a small cable lock and lock the wheel to your frame. It will be a lot easier and quicker to use on a day to day basis. However if like me you prefer to have the versatility of a longer cable, then I would recommend this lock.
I would give it 5 stars, but both Sterling and Squire make versions of these in 12mm thickness for about the same price (compared to Kryptonite's 10mm). Many would dismiss the 2mm difference as negligible, but consider the cross sectional area for each cable. Using Pi x Radius squared, cross sectional area for 10mm cable is 314mm squared, whereas it is 452mm sqared for 12mm cable. That's a lot more metal to cut through, and it might just make the difference.