I followed the numerous how-to's that are out there on the web. Degrease, sand, wipe down, mask, primer, color coat, clear coat, let dry... I used rustoleum professional primer and color, along with Duplicolor clear coat made for wheels. I couldn't find any wheel paint locally in gloss black, but they did have it in the flat. Masking off the tires was easy. The hardest parts were sanding (tedious) and painting (fumes and very sore fingers from pressing the paint nozzle). It took literally all day to do it and ran about $40 in supplies. There are 2 coats of primer, 3 coats of black, and 2 coats of clear. I would have liked to do more coats, but my fingers were killing me. (I needed one of those trigger things you use on spray cans!)
Time will tell how well or poorly the paint holds up. Powdercoat would be much more durable. I would have preferred the powdercoat option, but it was not feasible for me for a variety of mundane reasons.
Sorry to hijack this thread.