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Looks great...but speaking from experience here when I re-did the rims from my Fiero....
Get a variable speed drill, and buy a few polishing bonnets (they are tough ***** of cloth in a flat wheel, or a round ball) and some polishing rouge (need to go to a store that sell "body shop" type supplies).
Right now I can't remember the name of the chemical...but it's really disgusting and it will take the old clear coat off...
Then it's a matter of grabbing the wheel and some rouge and polish to a mirror shine...and not wrecking your hands.
No sand paper needed...and you can do a wheel in about 2 hours depending on how picky you are..
I couldn't get the rouge onto the buffing wheel. I have had no polishing experience, but the rouge would not cooperate, so I just went crazy with the mothers aluminum polish, a buffing wheel, and a drill.