I took thousands of stolen vehicle reports and none of them had a Club or similar device installed on the steering wheel. Seems they see the Club and move on. It's a great visible deterrent.
I recall back in the 90's we had a problem with Mexicans coming over the border with master keys to Chrysler products (down-side of them being made down there). The Mexicans would cruise parking lots trying the keys in various door locks until one unlocked. We arrested one of them who had a large key-ring loaded with keys. The keys were crude copies of the master keys, according to our detectives.