yes the JDM airbag will work. As far as Cruise control, if you have a automatic it will work, but you need to wire it up.
As for removing your existing steering wheel with the airbag
1) Turn your steering Wheel so that the Honda emblem is straight.
2) disconnect your battery.
3) pull out the fuse for the SRS system,..this is the same fuse as the fuel pump,..then once you do that,..look underneath your steering wheel,..there should be a lil cover,..pry that open and unplug the yellow harness,...that is your airbag harness,..once you have the new wheel in make sure you dont forget the fuse,..if you not put back in the fuse your car will not turn over because of no fuel delivery
4) Remove the horn cover on the wheel (you will need a T30 torx driver to remove the airbag. These screws are accessible through two snap doors on either side of the airbag.)
5) using a Ratchet, detach the steering wheel from the steering column.
6) Put on the hub adapter (make sure that the top is up)
7) place the rubber cover over the hub
8) attach the ringto the hub, then place the steering wheel on the huband spacer, and screw on the bolts.
9)attach to steering column with ratchet
10) after driving around for a while check the screw to see if they have to be tightened.
*I pieced this together off civichatchback.com by posts from me, OZ99, and WideBodyEK