The number you posted is the same one I got from ebay. I went to the dealer parts department and the guy there cut it for $10. I programmed it myself with one of my scan tools. All keys must be programmed at the same time because the process wipes out the previously stored info, therefore all keys must be present.
The price they gave you was likely for cutting and programming because they have to pay a technician to do the programming and like us, they do not work for free. Some independent repair shops have scan tools that can do the programming and some automotive locksmiths can both cut and program the keys. Call around.
Note that with the Ridgeline key, there are 2 different programming actions going on here.
-Programming the immobilizer in the key to match the vehicle
-Programming the remote fob functions in the key to the vehicle.
There is a limit to the number of remote fobs that you can program and they all must be done at once. This do NOT have to be done at the dealer, though if you bring them all the other working remote fobs they will do this.
I don't know if there is a limit to the number of immobilizers that can be programmed for a specific vehicle.
As for price, I would check around dealerships...prices seem to vary wildly. I bought my 2 Ridgeline blanks from eBay for $36 each. They were $90 each at the dealer. The dealer that I used, Autopark Honda in Cary, was totally OK with bringing my own blank keys.
They charged me $60 to cut and program both keys (remote and immobilizer) which I thought was very reasonable. This was for as many keys as I brought them. $120 seems excessive to me.
I've read that some dealers will refuse to cut Ridgeline keys for Elements, saying that i "won't work". For '07 and later, it does just work. These same keys are used for the Honda Fit. Earlier years require an immobilizer chip from an older key as the immobilizer system is different in those models.
If you don't have one, it might be worth your while to get a plain slab key cut that will open doors and rear hatch but not start the car just in case you lock your keys in the car.
I don't think anyone thinks that it should be free to do this programming work, but some dealers seem to charge excessively for it.
--tom