Hi Karl, I couldn't help but tell you about a similar experience.
I needed a replacement key for our Chevrolet Lacetti. I was told that only the dealer would be able to cut a copy and reproduce the imobiliser fob embedded in the key. So, I called the dealer, and sure enough, the price was similar to the one you quoted. Even more if I wanted one which allowed me to remotely unlock the car!
Remote unlocking was a luxury I could do without. I just wanted a key which would start the car.
So, I took it into my local Timpson key cutter shop. They dropped the key into a scanning x-ray type box, and within a minute, the code for the imobilizer had been copied, and placed on a key with a chip inside. Then, the key was cut to match my original.
All for £50!
So... I urge you to try them if you have one near by, and if you're able to get it done there, cancel your appointment!
I should point out that it's only in the last few weeks that Timpson branches have been granted this technology. So, not all shops will have these devices yet, but they're being rolled out across the country, so it's worth trying.