The bad thing about air bags is that when inflated they raise the rear of the car. This changes the weight distribution a bit by adding more weight to the front of the car. Not a lot, but when you are walking a fine line between traction and slipping then it can make a huge difference. When the rear of the car is higher then you can lose that Initial bite that you need to get the rest of the suspension working for you. The benefits of the air bags are that they can help even the load on the rear tires by preventing the right rear tire from trying to lift off the ground.
So, given what I have explained above are the air bags beneficial? I would say YES depending on applications, launching technique, horsepower, etc. An example would be my 5.0 Mustang: It launched much better (.06-.08 average) with NO air in the air bags even though it was twisted bad on the launches.
Left front tire 18” of the ground and the right front 6” off the ground. But it also had slicks.
If you have lowering/stiffer springs already on the back then you may not need the air bags because the springs are already making the car stiffer. Same goes with a larger sway bar on the rear.
In a nutshell, they are not a waste of money.
KS
Forgot to mention: Yes, get a good pinion snubber.
People were always surprised to learn that my Stang mentioned above used factory control arms and bushings (relocated uppers) and a pinion snubber with 3/4" of bump travel that produced 1.47 60's. No "traction bars" of any kind- I don't like them.