Naturally. If you understand what you're doing.
A well set up air spring will simply outshine a steel one. As long as the damping is correct. I ran my old Guzzi on air for years - all across Europe. I was actually rather peeved when the bags rotted out.
Air gives natural rising rate springing - but to get it right you have to understand - weight, movement, volume, pressure.
My personal preference is to run airshocks a bit harder than spec'd.
Comes from experience and willingness to sacrifice a little low speed comfort for high speed twisties - especially riding a small tank.