Absolutely... and they will hold up plenty well if you do it right. Besides, how many new wheels come powdercoated? Not even Fuchs came that way.
I sent one of the BBS RC's from my wife's VW Corrado to these guys in Hannover for repair and respray and they did a nice job. I'm sure they can polish as well if it's possible.
Pro-Felge
It wasn't cheap, but then again, nothing over here is cheap.