From what Ive read you do not want to inject an air bubble at all since the consequences can be deadly if you make a mistake. Obviously, the concern is that an air bubble in the blood stream can cause an embolism and cause a blockage in an artery somewhere in the body (i.e. heart, brain.) My understanding is that usually a small amount of air injected into a vein is of no real concern as the small bubbles are usually absorbed immediately by the blood. However, if enough air is injected into a blood stream it may not be easily absorbed and if it travels through a narrow blood vessel it can stop and block blood flow. Its a similar thing that happens when a SCUBA diver gets the bends.
From what Ive read its not a problem if air is injected into muscle as it will not enter the blood stream without being absorbed but the problem is that how do you know when youre injecting that you wouldnt be so close to a vein that in between the time you aspirate and inject that you havent accidentally moved the needle a little bit and pushed or pulled it into a vein? It just isnt worth the risk from what I understand, even if it is a low risk. Most instructions Ive read on injections suggest removing air bubbles from the syringe.
As far as getting the full dose drawn into the syringe into your body...you can always draw a little bit more into the syringe rather than using an air bubble. I think Id generally avoid air bubbles if possible.