What is the best cleaner or wax to shine and polish rims?

I've had excellent luck with Mothers and the Mothers Power Ball. Make certain you get the polish for either steel, chrome or aluminum depending on your rims. Polish them and then put on a good coat of wax. If you have the time, a nice clear coat after they are polished will make them last near a life time.

What kind of clear coat? Same?

A clear coat is a paint or resin without pigment. You would have to have them shot at a body shop or if you know someone with some quality spray equipment.

Do you mean a clear finish product? Crager makes one. I tried and hated it, Looked nice going on, attracted dust like crazy, and a bitch to get off. I like Mothers myself on my chromes. Tedious but well worth the shine and getting crap off.

Try Blue Magic for the rusty pit marks but for the face of the rim i still cant clean the water stains. I'll take any advice for that.

I've always liked meguiars hot rims cleaner.

Ive always been partial to Eagle 1'* Chrome Cleaner...its a dry apply cotton wool fiber with chemicals in it that eat thru rust, dust, brake dust, it cleans anything from brass to chrome and works well on my rims... but if you want a spray for when you wash the car, most any wheel cleaner will work, ive gotten mostly the same results with most of the different options out there, but id suggest getting a scrubber for the wheels like the powerball or a specific wheel cleaner brush/scrubber if you use the spray... the Eagle 1 Chrome Cleaner is like applying wax, rub in it, polish it off with another rag, and it is dry only, wetness will kill the chemicles

i used black magic

I learned the hard way I tried it on my spoked motorcycle wheel and it ate the finish off of every last one of the spokes I gave them another chance and used it on my wifes GP and it worked great