stated that the total hardware costs were 180 Euros, not pounds,
That sounds about right. My rough estimate on cost for my minimig is at about $150-$170US. So if you can sell it for a $200 profit after all your costs, and factoring in maybe 10 hours of work for an experienced person... The $$ per hour doesn't look too bad. Unfortunately once more complete systems are made, that profit margin is bound to drop. First to market in this case will have a tidy profit I think.
Plaz