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If you can do it with the old tires on, that may work nice.
The inner lip would be protected and you would only blast the spots that needed it.
If you do it without the tires, be carefull of the inner lip, where the tire actually mounts, a little is ok but don't go nuts or it could warp the steel.
I'm not at all saying Yeti is wrong, but a lot of used rims have rust on the tire bead so it would be good to blast it as long as you get plenty of paint on the bead area to stop the rust from returning. I blasted for a living for about 5 years, and if a rim warped from blasting, I wouldn't want something that flimsy on my truck. Also, I'm getting ready to do the same thing. The only way I see warpage happening is if you use a coarse sand as opposed to fine, which gives a much better surface, and if you held the blaster on a certain spot for a long time, like several minutes, then I could see it warping. Just my $.02.
Don't waste your time & money on paint.:-X23 Get 'em powdercoated. That's what later rims have under the paint, anyway. I live near the guy that runs the biggest plant in the central US and I can get stuff done SUPER cheap! He's gonna do my nasty bumpers for about $50 each.
http://www.webphotos.com/list_photos.asp?mi=3&smi=1&a=13217
Rezvani's Latest Post-Apocalytic Monster Is a Ford F-150 Raptor Underneath
Slideshow: Called the Fortress, the 850-horsepower pickup combines Raptor underpinnings with military-inspired features, survival equipment, and a starting price of $285,000.