[Captain Bunny]

Yeah, if you dont eject in time (which you should know when time is near cause your cock pit is sparking and your windows are cracked) you lose your saved game files. you cant then just restart the level, you must first buy a new mech with the points you earn. if you dont have enough points for a mech then its game over.
some of the buttons on the controls are just to start up the mech.

it does sound pricey at around £150, but remember that that is the r.r.p, so you can probably get it for £20-£30 less if you shop around.
Its really no different than buying a snowboard for the snowboarding games, or a good steering wheel. the game and controls adds up to a reasonable price, and a worthy pruchace for all x-box owners.