If you use the caps and paint the rim edge white, it will 'simulate' the look of a Wide White Wall. At least that was the idea the major manufacturers tried to sell after WWII. I'm diggin' the paint scheme too. You might consider painting the rim edge red and then using the caps also? I like it, I may end up doing something very similar with mine and leaving it a 'rat rod'...or a swiss cheese rod, or whatever the correct term is for a rusty flat black, beater...
You might also consider leaving the wheels black and white as you've done in the photo and using chrome center caps with a spinner bolted on. It would add a little splash of chrome, if that's the look you're after.
I don't know what your paint looks like now, but how about keeping the truck the original yellow and adding the scallops in a 50's style seafoam green, then painting the wheels to match? Studebaker/Rambler/Chevy all had a sort of pale green that would work. There is even a Rustoleum color that might work (Grass Green 7731).
Paint: Rattle cans suck. Take a look at the thread here on '$50 paint job'. You'll be much happier with it if you roll it, and when it comes time to redo it, you'll have much less prep work. If you want to leave it flat, just use Rustoleum primer, and don't rub it out when you're done.
Door seals: Get some off a Dodge D-50, and cut them to fit at the bottom (you'll need to take out about a foot. Use a small piece of tubing to join the pieces.)
Mirrors: If you are going to paint it flat black, you might consider some 'peep' mirrors that mount on the top of the door. There are some pretty cool designs on ebay, I like the iron cross. The mirrors on the photoshopped truck actually look ok to me with the flat paint, but it's your truck...
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, which end up looking something like this - 
