Well, depends on what you like... email Dave Best for a great description of what Powdercoating would look like. He does a GREAT job but I don't think he has an oven big enough for wheels (yet).
Powdercoating will be much less expensive (I have a place nearby here that does them for around $90/wheel) and you don't have to "prep" them quite as much as for chroming.
Most of the expense in chroming is prep work so if you can do some of it yourself you can probably save some money.
Powdercoat, even "near chrome" color won't be nearly as shiny as chrome BUT it tends to be much more durable (it's thicker) and I would guess it protects against rust, etc. much better. You can also choose from HUNDREDS of different colors if you want to go the color route instead of chrome.
I'm restoring my old wheels over the winter and will probably get them powdercoated when I"m done... either that or I might cheap out and just have them painted when I have my car painted. But I'd prefer powdercoating.