It is true that this cable is overpriced, but that is simply because there isn't a big demand for serial cables, and thus only one company (so far) has made one.
Apple's "approval" process is like the approval process for the appstore-- they just want to make sure stuff isn't going to take you to the back alley and mug you. Roach motels don't care.
So, I'd say, iPad is $49/night, with a deluxe breakfast, optical internet, and nobody takes you in the back alley and mugs you.