One problem related to air bag not deploy has been reported for the 2002 BMW 330. The most recently reported issues are listed below.
The airbag light started to illuminate in early April of 2012. According to a local mechanic, he said the issue was related to a firing mechanism in the driver's side seat belt which has failed. The mechanic reset the airbag light, but it came back on about a month later. The mechanic stated the driver's side seatbelt latch needed to be replaced and it would cost $500. Until this issue is resolved, the airbag will not deploy. Vehicle only has 100k miles on it.