The ignition and steering locking mechanism on the Mp3 is not much stronger than other bikes. With enough force it can be broken and the bike simply rolled away. The ignition lock might prevent the engine from starting but the bike would still be stolen and damaged leading to weeks of repair time.
FortNine has a youtube video on bike theft prevention.
Better to take extra precautions. Find a decent lock that you can carry with you that goes through the wheels or brake disks so the bike cannot be rolled away.
Make sure to engage the steering lock so the trunk cannot be push-button opened.
Park the bike in well lighted areas where no one can mess with it without being scene.
Understand that if someone really really wants your motorcycle, they are probably going to get it no matter how much protection you put on the bike. Get good insurance, take precautions to discourage theft, and accept that a team of determined people can steel the bike if so motivated.