I've always been a bit skeptical about using Plasti Dip (durability, cheap looks, etc.), but I had some irreparable damage on a few of my wheels, so I decided to take the plunge. See damage below:
I ordered a wheel kit from dipyourcar.com. I went with anthracite with glossifier. Here are pics of the process & finished product:
Kept the wheels on the car because my driveway is gravel, and I don't trust the stability of a jack or jackstands on the surface.
I'm really happy with the way it turned out. In hindsight, I would have done more coats of glossifier. I did 3 light coats. The finish is still essentially flat, but that's fine with me. You really have to coat the glossifier on thick to notice a difference.
I liked the way it turned out so much, I decided to do the plastic chrome surround on my grill as well (in addition to debadging):
Let me know what you think!