Shiny probably isn't your best choice. To polish magnesium, you expose one of the most reactive metals in the universe to air, then try to cover it up with a transparent film. Not only does the mag actually chemically affect clear coatings, but wheels flex in use so thick coatings will crack. And soon, you're back to gray metal-marble.
Best idea is go stock: clean thoroughly, coat with zinc chromate, and paint with Argent silver paint. And watch them closely; nothing is perfect...
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