It also has various options to adjust the behaviour, from no blocks at all, to not even being able to charge the phone (or use the phone to charge something else) -- even when unlocked. Changing the mode of operation requires the device PIN, just as changing the device PIN does.

Note that it behaves subtly differently to how you described in case it was connected to something before being locked. In that case data access will remain -- even though the phone is now locked -- until the device is disconnected.