Polishing wheels is an interesting topic in itself. There are several ways to go.
1. spend Sat arvo with some 180, 400, 800 and 1200 grit wet and dry doing the outer rims followed by some anusol to bring them to a high lustre. This is the cheapest way but then be damned to eternity having to rejuvenate them regularly after rain etc
2. When due for new rubber have them sent off for complete polishing of the rim and then curse when they dull back and oxidise after 6 months because they haven't had a finish applied to them. See above re: eternity
3.Have them polished and coated with a clearcoat powder finish ($30 rim for clearcoat) which will mean only have to wash them and admire, yet have only the mediocre finish of polished alloy.
4. Have them polished and nickel plated ($) then stand back and fondle yourself wildly.
5. Have them powder coated in a unique color for under $150 the pair. They now make powder coatings in pearls and other effects that may be worth looking at
check out
http://www.duluxpowders.com.au
or talk to a local powder coater or plating shop