Well, considering that my car was just broken into in the middle of a crowded parking lot in broad daylight, I wouldn't put it past theives to try anything.
There are tongue locks that I see at west marine that sell for like $30 that look quite solid and would take a plasma cutter to get off, as theres no where that bolt cutters could cut. Also you could try axle-locking mechanisms such as putting a u-lock (bicycle style) through the hubs. Granted they wouldn't stop a determined theif, but anything that would make him spend a longer time trying to get away with it.
I think the big thing to do is to leave as little as possible exposed. For example, don't keep your sails in the cat box... in addition to poor sail storage, it would give the theif a fully functioning boat.