There are 3 parts to a 75/ZT key:
1. The blade - a blank can be copied - will unlock the door, boot and steering lock, but not release the immobiliser.
2. The circuit board and buttons for the alarm and remote locking - factory set, cannot be changed - the details on a new key are on a label attached to it in the form of a barcode. It's those details that are needed for the car to be programmed to the key on T4 for the alarm and remote locking function (not the key to the car).
3. Immobiliser chip - factory set to the car - cannot be changed but there have been posts about it being cloned - not always successful as they can lose the rolling code within the car immobiliser system.
It is the immobiliser chip that causes most problems, a guaranteed working key is only available from BMW.
Each car immobiliser system has 10 possible codes, the details of which are kept by BMW in Germany according to the car's VIN number.(Each key, although for the same car, has a different code)
When a new key is ordered it is supplied with the immobiliser chip set with the next available code and the blade already cut, from their records. (which is why it takes so long)