reet first off all you wanna get them acid dipped, isnt expensive and saves your hands from lots of big blisters. then do you want black with silver lip or black with polished lip. polished lip looks better but you cant protect it as laquer wont stick to the metal. but then again silver doesnt look as nice (but thats like saying jennifer aniston isnt as pretty and angelina jolie) anyways buy some acid etched primer as this will properly stick to the bare metal that been freshly dipped. do 3 or 4 coats of this and then gently sand it using wet and dry until you get a smooth finish (run your fingers over it and u will feel any bumps or highspots) then if you are goin silver lip mask of this area (i recomend doin this with electrical tape and its streches and you can get a smooth line around the outside, then mask the rest with maskin tape. spray on you black, again 3-4 coats. then mask the middle part and then spray your silver lip with 3-4 coats. wait a day or two for the paint to harden then very very gently rub down the paint until silky smooth, use very fine wet and dry and dont rub through the paint. then laquer over with 2-3 coats and make sure it doesnt run.
if you want polish lip mask off the lip then spray ur black as before, wait for this to harden then use the polishing kit (usually comes with instructions) and the mask this off once polished. laquer over the black (or not if you want a matt black finish, it looks hard trust me) job done.
u can get the polishing kit from machine mart or tinterweb somewhere. if you polsih invest in shares of autosyl coz you will use a lot of it. if you polish i used to clean mine every 2-3 days and polish them otherwise they becme scratched and crappy. same again if you matt black but use lots of wheel wax to protect them.
just take it slow ont he wheels and they look good, try not to work to a deadline as i guarentee this will feck it up. goodluck mate