Airbag will not be functional...getting that to work would be a nightmare, and a malfunction would SUCK.
As for the rest of the wheel...if you don't want steering wheel controls, go with the Grand Am wheel that is shaped just like this, or the Grand Prix wheel. Bonnevilles also have the same wheel, but steering controls were standard. If you don't like grey, SEM makes a very nice paint that is meant for vinyl and matches factory colors perfectly.
Now then...this wheel will fit the older columns, BUT the older columns don't have the right collar on them to support the clockspring that makes the buttons functional. Refitting the collar doesn't look like it will be an issue.
In short, if anyone wants to do this mod, grab the whole column from the donor vehicle, and be prepared to Frankenstein the two columns together. When the time comes, I'll do a writeup on it.