A pelican case will be no match for an axe, of course the gear inside will be trashed too, it's just a plastic case ( although a very nice one, I have two)
The handle can probably be cut off the case with a hacksaw in about 60 seconds I don't think they have any steel in the them. The only place to cable lock a smaller pelican case is thru the handle or the pad lock that can lock it closed. Neither would hold up to a saw( the case, not the lock), but I'm not sure how many thieves wander around with a hacksaw.
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Thanks. That is sort of the confirmation I was looking for. So I guess I am onto one of these. http://www.tuffyproducts.com/p-287-tactical-security-lockbox-19-78w-x-35-78l-x-8-1516h.aspx