Can you put bags on a Civic? Last I heard you had to do an airrod setup. But Ive been out of that stuff for a while. You definately will lose performance with airbags/airrods. Any adjustable suspension you increase your risk of something happening. Whether it be a busted line with hydraulics, or a airleak with bags/rods.
I wouldnt do it on an everyday driver at all. But thats just me.
These guys make good setups.
http://www.aimind.com/homepage.htm