As you indicated the most difficult part of this mod is to remove the airbag which OP doesn't get into too much. Thank you for posting your update.
It took me 20 mins total for the install.....
People with silver int should really consider this mod as the blue on the steering wheel goes very well with the interior color!
Retired: 2011 E92 M3 AW w/ Silver Novillo ZCP, ZTP, ZPP, 494, 6FL, 507, 302 & 415.....ED April 29th, 2010
Retired: 2007 E92 335i -Space Gray, Black Leatherette + Alum, Nav, ZCW, ZSP, PDC, CA & Sunshade.....ED Oct 19th, 2006