Looks like a common "wafer" lock - easily picked w/paperclip and a leatherman or small screwdriver. :yikes! have you ever tried to open it w/o the key?
Recently had to secure mine while going on-post... put it in the toolbox in my trunk and slapped a master lock on it. Also easily defeated w/a pair of good pliers or clippers. Like Daddy always used to say - locks are to keep honest people honest.
I'm not worried about someone picking the lock. The safe is more for the lines of if someone smashes into the car, the first place they are going to go for is the glove box. The locks on glove boxes are a joke. If they happen to find the safe, it is attached to the seat rail which won't come off. They will have to cut the cable. I highly doubt they will try to pick the lock while my car alarm is going off.
The whole point is to make it more difficult for the person to take whatever they are trying to get. If they REALLY want it, they will get it 1 way or another.