My WoW account got hacked before they had security keys and i tell you what, i would wait an add'l 5 mins to log in if it meant i am safe from hackers. They destroyed my account and all the years worth of time invested.
I stoped playing WoW after that.
While for some without patience, the security key is annoying... for others that truely know , it's worth the time... so if the security key annoys you, dont use it, get off the forums and stop whining... and wait.. one day you may very well wish you had kept it.