A short, relatively light chain for low-risk situations. If you need something to protect a cheaper bike, this could be a good option.
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Pro Easy to wrap around objects
This Kryptonite chain has the flexibility of a cable lock. Even at the mini size, it will still be able to wrap around more objects than any u-lock.
Pro Good for lower risk situations
The chains on this lock are 9mm in diameter, which makes it good for only quick stops in busy urban areas. Chains under 13mm can still be cut with bolt cutters, which isn't good enough for higher-risk settings.
Con The lock might freeze
Be careful about using this lock in winter conditions. There are some users who report the key-hole freezing shut.
Con Heavier than u-locks
At 9mm diameter and 21.5" length this is not nearly the heaviest chain around, but it's noticeably heavier than most u-locks.