Krylon 1403, as suggested several times in this thread. Here is another thread I started that has the whole mad scientist process that I went through:
http://forums.pelicanparts.com/porsche-911-technical-forum/963410-rsr-finish-super-simple-30-minute-diy.html
I wanted to circle back to this older thread for feedback on the best paint to use. I followed the advice of people on this thread and tried Krylon 1403 and Rustoleum 7277. From my experiment, I decided to use the Krylon 1403 because I liked the color better. After I finished my test wheel, I realized that the can said it was for interior use. In reviewing this thread, it looks like those who used the Krylon 1403 used a clear coat over it. How has that held up? Are there any other suggestions for better paints to use?
I am confident that my process using water to mask is a good one. I'm just trying to decide what is the best paint to use before I tackle the rest of the wheels.