No it is not true that you would have to spend that sort of money.
Do you want it for master or slave.
The best thing is to get the drive, set it up for slave and see if your bios recognizes it.
If it does not you can download a disk from the manufacturers web site that will fool the bios in to recognizing it.
Even if this does not work you could buy a pci controller card that would do the job.