Well... do you really want to retain the airbags function? The light came on my 325i because the steering wheel air bag malfunctioned so I just unplugged it, jumped the bugger with a 3.3 ohm resister, and went on my marry way.
Just remember to buckle up and not plow into anything too fast head first and you'll be good =)
'92.5 BMW 325i Sedan, manual trans.
Drivetrain: -Schrick Performance Intake Cam -M3 Engine Mounts -K&N Air Intake -Supersprint Exhaust Header -Cat Delete -Metal Water Pump -Fan Delete -SPAL High Flow Electric Fan -75C Thermostat -TMS Performance Chip -Weighted Selector Rod (easier Shifting) -M3 Trans Mounts
Suspension: -Bilstein Sport Struts -H & R Lowering Springs -Offset Solid M3 Control Arm Bushings -M3 Rear Trailing Arm Bushings w/ Poly Shims