Biking down the main drag at the UofO was pretty much the same scene- rows and rows of bike racks, with stripped, broken and bent junker bikes still chained to them. I suspect quite a few of these bikes are left there for a pretty significant amount of time (Campus workers don't want to try to cut the shackle or cord holding it to the rack, so it remains, and because it's 'there' and already damaged, people continue to trash it)

That said, there were relatively nice racks just outside the dorms, more carefully guarded, but I'd still be nervous about keeping a *nice* bike there... If I had to, though, I'd consider painting the frame or covering the brand names with stickers, removing both wheels (quick releases) seat post, and lock thru frame AND fork. I say this b/c my ex's bike was stripped in a concrete bunker of a bike storage facility- fork, both wheels, seat and seat post stolen.

Hope this isn't too scary, but then again, if you read the 'fine print' on Kryptonite locks, the only places they won't guarantee their locks are New York, Eugene, and a few other places.
I hope someone else has more hopeful tidings...