I've found the answers to my questions ..........
The OEM key is supplied to MMC by BMW. They can be duplicated by BMW HQ for Morgan upon production of a V5 with the requesters name & address on. The key arrives in 4-6 weeks completely "ready to use".
Production involves mechanical cutting but also producing a chip that is encoded as paired with the particular (Unique S/N) ECU that is actually fitted to your car.
Apparently none of the "Key Clone" solutions will work and the software to program from scratch is BMW proprietory.
Good news if you want to make your car harder to pinch I suppose
Key was £168 inc VAT, not cheap ........ but looks favorable against a McLaren key (£700) or my friends Iveco truck (£1000). I found MMC very straightforward and prompt to deal with, bodes well for the future.
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