I'm in the process of repainting the 5 spokes with the Duplicolor paint. I've read where some people have had problems with it chipping, etc. but I also found someone who repainted their wheels with Duplicolor and had great results.
When I was searching for a painting guide, I came across this link:
http://www.yotatech.com/f2/painting-wheels-dupli-color-wheel-paint-63124/
In his post (it's from 2 years ago), he said that it had been three years since he painted them and they still looked great. I wanted to sign up on that site to ask him how they still were, but their registration is closed.
I would like to get mine powdercoated but I can't afford that right now, so I'm going to see how this holds up. I daily drive my car, so hopefully this won't turn bad quickly. I've done a lot of prep work on them, so hopefully that will pay off in the end.
I'll let you know how mine turn out.