Conclusion: NO.
Honda is about to sell their top of the line Gold Wing (pronounced Winnebago :0) )with air bags this summer.
Are we both coveting the same model Gold Wing?
GWs are really two wheeled cars..
The technology is definitely around to incorporate airbags into contemporary motorcycle designs, it's just that most riders don't want to deal with the additional weight of the system or pay for the complexity. I saw remarkable video how airbags would reduce injuries in moderate-speed accidents.
They might find a market with touring bikes and full-sized cruisers...but it would be a difficult sell in the sportbike or standard market where performance holds the most influence.
~ Blue Jays ~
I'll send this thread to him and get his opinion. I could envision some protection at low speeds, but I think the way airbags work is to cushion an enclosed space. You'd have to trap the airbag between the offending vehicle and you.
Good Luck....