I've seen pictures of someone (Tom Crispin from urc if I recall) who has a trailer which attaches to his bike for carting other bikes around. Obviously not a practical solution for longer journeys though!
Sorry Jim, from experience I can say you're totally wrong, if referring to trailers behind cars rather than bikes. It's the most practical way there is of carrying bikes, especially on longer journeys.
You have to go 10 mph slower to meet the speed limits, but with bikes on the roof or a rear carrier that's likely to be the sensible option anyway. The fairly small trailer has negligible effect on handling, you have to make an effort to remember it's there, and attaching and detaching are much quicker than putting bikes on carriers (about 20 seconds plus checking that the lights are working).
Security - I had a pair of iron bars and very substantial locks passed on to me by its previous owner. They clamped the wheels to the frame, and I had 4 similar devices made for me to lock the bikes from BB to trailer frame.
The furthest we ever went with the trailer plus 4 bikes on it was Suffolk to Valencia return, for which it was not only practical but optimal as a solution. The trailer was also full of camping kit for that one. When using the trailer just for bikes we did use some old concrete building blocks as ballast as the bikes were a bit light on their own.
Including the towball fitting it wouldn't be much more expensive than roof bars for my present car, which can't take a normal tailgate carrier.
The drawback of a trailer is storing it - that's why I had to sell mine when I moved somewhere where it would have been a problem. I've missed it ever since.