I've assembled some multi piece wheels for a quite fancy and nicely restored 1928 Hudson. The wheels were painted and perfect, lock rings chromed as I recall. I was not allowed to harm paint or chrome... It really wasn't that hard to do using some tape on the tools and many pieces of a cut up antifreeze or oil jug between the parts as they slipped together and to further pad the tool.

I also put tires on my 22.5 wheels which were powder coated, used the same tricks. Also no trouble at all and no harm to the finish. Tubeless tires are quite easy to install in comparison though.

I think that given the same care at assembly (do it yourself, not at tire shop) you'll find good quality powder coating to be more durable and less risk of damage than painted wheels.
Also, no reason at all you can't touch up a nick in powdercoat with paint if it becomes necessary.

Grigg

•1951 GMC 250 in the Project Journals
•1948 Chevrolet 6400 - Detroit Diesel 4-53T - Roadranger 10 speed overdrive - 4 wheel disc brakes
•1952 Chevrolet 3800 pickup
---All pictures---
"First, get a clear notion of what you desire to accomplish, and then in all probability you will succeed in doing it..." -Henry Maudslay-