As far as I have read and stuff from my owners manual, all the Theft Deterant system does it cut off the starter. SO basically you just cant start the car with it. I guess you could probably hotwire the car, but you would alert everyone on the block with a blaring horn and freaking out lights, because you need a key and have to seemingly unlock it a special way..
Least thats how my car is, if I dont unlock it right, it goes apesh*t