Yup. Makes the brake dust, mud, etc. wash off with the hose, and helps them not get ingrained into the chrome/alum. GM's polished alum wheels have a clearcoat, too, so it's basically a painted wheel.
I use a D/A (PC 7424) with microfiber bonnets to apply sealer and wax. Someone turned me on to Blackfire detailing products a couple of years ago and that's what I've stuck with. I wouldn't recommend using a D/A if you're not familiar with how to use them, especially one with some power on your truck if you haven't practiced on something not-so-new before. Although unlikely, there is a chance that you could go through the clear on some of the hard edges.