Anti Thief devices.... what works

Hey I just found this cable thing that mounts to steering column, snakes into the bay and connects to the hood latch. Has anyone used this? Does it work on our old style hood latch?? It also appears to come with some sort of coil kill switch as well. Megatronix HL7 7 Foot Mechanical Hood Lock Cable Ignition Immobilizer Security | eBay