I am under 5' but I am an unusual case. I have a very short torso, so I need about 5" of telephone books and cushions. Fortunately, I have long legs considering my body size, a 30" inseam.
I can drive the car without any problems with regard to the pedals, and I do not have my seat as far up as it can go. I am probably 1 or 2 notches back.
I don't know what you would consider an advanced airbag system, but the driver airbag is 2 stage, and there is a seat position sensor to determine how far forward the seat is, in order to control airbag deployment.