Nick is too kind, but I just asked one of my 'chaps' who owns a Disco 1 himself and he said, yes, but. Removing the fuse prevents power getting to the ECU of the air bag, and it is the lack of power at that ECU which makes the lamp come on.
He says the way to permanently disable the air bag is as follows :
1) Remove the Positive and Negative leads from the battery to completely disconnect it.
2) WAIT HALF AN HOUR
3) Take the four bolts from the back of the steering wheel, which retain the air-bag unit.
4) Lift out the air bag unit and disconnect the plug of the wiring.
5) Tape up the plug on the lead from the air bag unit so that the pins in it cannot possibly connect to anything.
6) Reassemble the unit to the steering wheel with the four bolts.
7) Drive away confidently knowing the bag can't go off.
He also said that it is unwise to test the pins in the air bag wiring loom for continuity, using a meter. The voltage applied is enough to make the air bag go off
Thor.