Yes! I did it! The whole job start to finish took about 3 hours and the result is very nice. If I knew how to post pictures, I'd show you what they look like.
I bought a quart can of aircraft paint remover from the local automotive paint and body supply store along with a roll of blue masking tape. I masked the rim off at the point where the machined surface meets the cast surface. I then used a paint brush to lay down a coat of the paint remover (this is all done with the wheels on the bike). The paint remover has a rather thick consistancy so that it doesn't run and drip (you must use common sence as to how thick to apply this stuff because it will remove the paint on anything it touches, you don't want to be slopping it around). I coated half of the circumference of both sides of the wheel. In about ten minutes the paint begins to bubble up. When a significant amount of paint has lifted, I used a rag to remove as much of the gunk as possible and then followed that up with some steel wool. The little bit of paint that remained was coated again and the process repeated until all paint was gone. I then did the other half of the wheel.
To buff the wheels I used a buffing wheel (available at any hardware store) on the end of my drill, and a stick of red jewelers rouge. The friction of the turning buffing wheel against the rim will cause the wheel to turn. This is a good thing because the rim advances itself. After that I applied my favorite metal/alloy polish to finish the job. The rear wheel is the easiest to shine because with the bike on the center stand you just fire it up, put it in second gear and hold your the polish soaked rag against the wheel. The front wheel has to be lifted with a jack under the front of the bike so that it will turn for you as you apply the rouge and later the polish. The initial result is very good, however, the more you polish the rims over time, the more brilliant the finish will become.
And that is about it. If I can figure out how to post a picture you'll see the results. It is worth the effort!
Bananas!