Originally Posted by amoosenamedhank
So to answer your question... the typically procedure is to remove the airbag fuse and pull the negative battery terminal. Once you do that give it at least 20 minutes and some recommend to press the brake pedal to completely drain the system. The pyrotechnic squib is of course still in the airbag, but with out an electric charge to ignite it... you should not be in risk of blowing the thing off in your face.
I agree with everything you said in your post, however even with all of these precautions you should still be very careful. You may assume that the airbag has no electrical charge do to the battery and fuse being taken out, however most modern air bags have capacitors that hold energy for the air bag to use in result of this exact case happening in a crash or other accident.