You seem to not understand how that system works... You only don't have to put in the code if you are logging in from the same IP address that you put the code in last time it asked, if someone gets your PW and attempts to log in from any location other than the computer you put the code into the last time it WILL ask for the code, no matter what. It is still just as secure as it has ever been.
To the OP: Don't listen to this guy, he has no idea what he is talking about, get an authenticator. They are free if you have any smartphone or an Ipod touch.