i looked at a number of pictures of used 165's that were for sale.
I do not know what color they were when new, but it looks like it's a 50/50 toss as some had silver wheel rings and other were solid red.
i think the silver ring on the wheel looks better as it matches the silver wheel ring of the rear tire. But that is just me.
just knock yourself out and paint them however makes you feel best. any paint is better than rusty wheels.