I remember watching one of those reality shows that was based around teams building cars to compete against each other in a series of races. One of the teams ran an '05 Mustang with Air Ride and they took 2nd in the series out of about 8 other cars. All of the cars were very nicely built, like a Vette, 350Z, etc. One all the open track and autocross type events the Air Ride Mustang was at the top of the leader board.
I have been researching this option a bit for my car and the weight is about the same as a traditional suspension set up. The spring / dampner set up is actually lighter, but the additional plumbing and pump add a bit of weight back on the car. But if you set the pump and tank in the trunk you actually improve weight balance. It really is a nice option. I like my car to sit low on my Sportline springs, but with my body kit there are plenty of driveways and curbs that cause a problem. With Air Ride I could flip a switch to get over those high spots then set it back down to cool handling mode. Cost for a S197 car is between 1900 and 2400 bucks, depending on pump and switch options. Not a bad deal when buying a new front bumper cover and painting it costs me $1200.
As for the "I don't drive a Honda" comment..... things have come a long way. Might want to check it out.
Brandon