Would it be more cost effective to buy chrome spokes and have my factory 16" 40 spoke wheels relaced or by a replacement rim.
Depends on a couple of things I can think of off the top of my head.
1. Most importantly, have you removed the tire and rim band and closely inspected the actual rim for corrosion and wear issues? Especially check out the area where the spokes seat to the rim, as that has been an area of concern on Harley wheels in the past.
2. Are you capable of lacing a wheel yourself? You might find it harder than you think to find someone who can do it properly if you can't do it yourself. Trust me, it isn't as easy as some may think.
If the rim is marginal and you don't have confidence in lacing the wheel or finding someone fully qualified to do so, buying a new wheel assembly might be your best choice even if it is slightly more expensive. Have you done any price checks for a replacement rim and replacement spokes versus a wheel assembly? Harley MSRP for the stock front wheel is around $346 for instance, and the rim alone runs about $150. Not sure what a set of chromed spokes goes for these days.
Jerry