this is a project i'm working on due to we only have the valet key to operate the vehicle & replacements are expensively unacceptable. the car manufs have us by the berries on this crap. cars are stolen all the time, immobilizers or not.
i've got it to start & run with a cut key & valet key near the ignition but its not consistant. if anyone would care to share on where to locate the valet key or how to disable the system completely, please share.
i'll post what i find that works.

 

finally got around to messing with it this morning.
had to remove the lighted ring assy by carefully prying the black base from the cylinder projection. then taped the transponder key inside the ring & slipped it back up inside near the steering column.
now all normal keys work.