Multiple high quality locks are the best way to go, along with keeping it inside if you can, or out of sight if you can't.
My bikes are locked up in the garage in a combination of chains and locks to and through each other and disappearing into the pile of stuff. Secured to the pallets those piles are on, really. There's a pin in the track on each side of the overhead door, that have to be removed from the inside before it will open. For around two hundred bucks I picked up a security cam set up from Costco a couple of years ago after the house got broken into. I added the two other cams the kit was able to handle a little later. There is a camera on the system that watches my car and the garage's side door (thanks Landlord for the motion activated lights) and one inside the garage that can see the overhead and side doors, down to the workbench/tool area, and the bikes. I'm going to put a motion sensor light in there too. Both record video if their own motion sensors are tripped, and the 'night' vision they have is good enough to see bats on summer nights. I have the monitor unit on our 'house server' computer, and can switch cams with a click. Handy when someone hits the doorbell. When I'm out I have a U-Lock and a series of cable locks that I work with, and I have a cover that I can use if it's raining.
I had a cool bike lock years ago, I wish I still had it. It was a ring that secured on the other side of the bit the rear brake caliper is usually mounted to with assorted hardware. Awkward, as it had to have the key in it to be open, but it locked the back wheel to the frame very well, and had the added bonus of being visually subtle. Someone could go after every chain and cable to free the bike but it still had to be carried.
All thoughts of rigging and trapping are purely for the exercise, I wouldn't actually set up anything that I'd be likely to get myself caught up in, as I can be rather absent-minded sometimes to put it mildly.