Sorry guys, I've rarely seen so many misconceptions in one thread.
1. The OEM wheel isn't vinyl, it's leather wrapped.
2. $250 is CHEAP. Call up Toyota and ask what a replacement wheel is for anything, even a tC. The last time I looked into this, it was an '88 GTS Corolla - they wanted more than $1000 for the steering wheel alone, and that car had NO airbags even as an option. OEM parts can be absurdly expensive. How about $1500 for an interior door panel? That's what a Supra interior door panel goes for from Toyco.
3. The wheel doesn't come with an airbag, so that's not why it is expensive. The airbag is usually somewhere between $500 and $900, so I guarantee you are using your existing airbag for the new wheel.