There is a long thread on this if you search for it. The consensus seemed to be that a chain you can lock to an object is the best but as you mentioned there is the weight issue and for determined thieves with bolt cutters, grinders they are a minor inconvenience. Some like audible alarms if no off street parking is available but you have the issue of kids setting it off purposely etc.
A lot of people feel having an old looking cover is the cheapest, most effective form of security. Out of sight out of mind. Combining that with a motion alarm on the cover seems to work for others.
As I would take a bike similar to yours I would go with the cover and take a cable and lock you can use to lock your helmet, jacket to the bike and then to another object for when you have to leave the bike for a while. Might stop the opportunistic thief. You can also use the cable to secure your helmet,luggage to a bed etc if you are staying in Hostels without secure lockers.
Once your new bike dirty's up a bit it will blend in with the locals except for the luggage and plates I guess.
Have you bought the bike yet?
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