Don't ever lose your last "chip" key, it is a major PITA and expense to make the car drive again. If you only have 1 master key for your Gen1, make a few $2 "plain silver" copies at hardware store, remote the master chip head under the dash. If you only have 1 valet key, order 1 master metal key cut by code at the dealer, duplicate at hardware store, then remote mount valet chip head. See my video;
I don't have a Valet key, tho. Nice video, Paul. I think I would hesitate to defeat the security system on the car, tho. I just got a duplicate cut and programmed. Ace, here in Tucson, can do it about $75. Walmart might be able to. And have a 'dumb key' made to get in the car if the keys get locked in. I keep one in my wallet. You're right, losing your only key is a nightmare!
What ACE made you is called a clone key (they didn't program anything, they cloned your existing key). Usually people with only a valet key have them cloned since they cannot add any more keys the official Toyota way. If you have a true Master key (black head) an alternate option (if you have a bit of time) is to order master blanks on Ebay for $7-10 each or so, have the key "cut" at your hardware store for $2 then properly program the key yourself using the official Toyota procedure (aka "chicken dance"). Keys properly programmed the Toyota way is a more correct way to make additional keys, and cheaper than cloning.....but you need a true master key to do it.
You can by transponder keys and key fobs cheap at TRANSPONDER. Like under $15. They send the instructions to do the right "PEDAL DANCE" to program them your self
Correct, as long as you have a MASTER key you can self program the appropriate new keys. If you only have a VALET key cloning or bypassing the immobilizer are your only options.