I think the conclusion is if you don't care how they look close up, do a nice prep job with some sanding etc. on the rims/spokes and spray them yourself with paint. They'll probably look better than you expect if you take your time and prep well.
I went all out and had my alloy rims polished, hubs polished, new stainless spokes/nipples, laced, trued, new tires and balanced. I could have bought another bike or two for what it cost.