Ill be honest, I have not cycled for at least a few years, but I can still see the advantages to a lock with 'no key' (gotta love a product that puns with its own name).
A couple of items that Nate did not mention in the video: If the battery runs out (and the lock has to be open to replace batteries) there is a spot on the outside bottom of the lock where you can touch a new coin-cell battery to 'jump start' the lock with enough power for you to unlock it in the usual fashion.
Also, there is quite a lot of customization, for example sharing the pass to the lock with other people, AND being able to limit the days, and times that their pass will work.
All things considered, the Noke does a great job of adding flexibility while de-cluttering your keychain.
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