That looks the same as mine (95 525) - and I just took my steering wheel of yesterday
You have removed the one screw that retains the lower cover. The lower cover and upper cover snap together (many snaps). Carefully pull them apart and you will be set. Now removing the lower cover completely is a pain because of the levers on the right, but you will figure that out.
I can't answer your question about what is safe - I get butt pucker every time I take that explosive device off. I disconnect the orange connector under that cover you are trying to remove (after waiting 15 min with battery disconnected). Store air bag with bag up!
Last edited by Scott C; 07-06-2008 at 06:26 PM.
1995 BMW 525i w/139K miles, EAT Chip - (Gone)
07 525i 22K, 07 328xi (41K)
1982 Mazda RX-7 w/147K miles (Back again!)