Yes, the 1200 clutch is THAT much, a rip off IMHO. It's clearly nothing special in its construction and not that dissimilar to earlier bikes.
If you consider how many 1200's including RT/ST/GS/HP2 have been made, economies of scale ought to now be reducing the price of a clutch but it hasn't happened and I smell profiteering.
The friction plates can wear quickly or glaze if ridden hard. If I had to strip again after another 10,000 miles that's still about two years for me between clutch changes, so the second change would be a full kit anyway and I would have got two years riding out of the £70 for the friction plate. I will strip and inspect before ordering parts in case I have no choice except fitting a full clutch.
FWIW I am the second owner and I got clutch slip early after purchasing and have nursed it for the past 10,000 miles, I think the slip is due to a hard life causing premature wear to the friction material.
To the OP, go to the 1200 section stickies and look at the clutch change in pictures by Spike or use the link in Fringe's post above, it should show you what is required in plenty of detail from somebody who has done the job (unlike me!).