I suggested you take the cylinder out because it will make it easier to pick without the rest of the padlock getting in the way... it is destructive if you want to use this padlock for locking something, but it will be fine for practing.
The other reason I suggested this is because it will let you see if there are any security pins in it.
If you decide to take it apart, the link to the site for dissasembling your lock is here:
http://dp.penix.org/locks/cl.html
I don't think this lock has any security pins though... strange, but then again somebody might know more than I do about this lock.