I also use the authenticator. I enter my password which takes about 2 seconds, and then I enter in the code which takes another 2 seconds. It takes longer to zone into the world then it takes to log in. Then, in addition, I never have to worry about my account becoming "compromised", which means I never waste my time dealing with things like that. It also makes my account much more secure, so I never worry about being hacked. Unless they can figure out the algorithm to my account's rotating security code. :P
Actually to play devils advocate, the way they hack your authenticated account is a little more simple. All "hacks" (no one is getting hacked, you are nearly always getting keylogged) rely on keyboard entry or clipboard copy/paste. Now these "hacks" are done with scripts, there is no little chinese man sitting there entering details, it is almost entirely automated. The keylogger takes your Username and Password, and pops it into the next free console in the tree, logs in and a script runs which empties your account, clearing all gear, and gil, trading it/sending it away, and then logging out, deleting the character, and moving on.
Now, to hack an authenticator is uncommon, but happens, and here is how:
1) You access your game client, and have login screen in front of you.
2) You type your username and password in, while the keylogger is running in the background
3) The keylogger is linked up with a computer at the other end, entering your details live
4) You enter your authenticator code, and this is entered live too
5) The foreign PC logs in before you, using your auth code, and the script runs, nuking your entire character of gil and gear, which only takes seconds, while you sit and attempt to login again
This is called a man in the middle attack, and is the current only known way authenticators get hacked, so don't think because you have one you have immunity, you merely have a much higher chance of a safe account. The best way you can be, is to have a live virus checker running all the time, and secure your PC firewall, and have an authenticator.
Requesting a "The More You Know" rainbow please :D