I have quite significant rim rust on my Cragar Soft 8's so I decided I would try to paint them after removing all of the rust. I broke out my dremel and threw on the small wire wheel attachment and low and behold it ate up the rust and brought out a brand new-like shine. I plan on using a little wax to prevent further rust issues.
The only down side I have come across is that removing a fair amount of rust is tedious, to say the least, with a tiny 3/4" wire wheel. I also wore down the whole wire wheel to nothing after doing only one rim. I was wondering if anyone has tried the larger full size drill bit wire wheel to do the same thing. I am concerned it will not be quite as delicate and mar the chrome finish of my rims.