Painting a plastic stering wheel??

For anyone considering a leather steering wheel cover, I strongly suggest you take a look at www.wheelskins.com.
I put one on my '95 Dodge Ram stock steering wheel about 6 years ago and love it. It doesn't have that funky wrap-around diagonal vinyl lacing - it actually looks like a stitched-leather cover, fits great, and feels 'right'.
They're pricier than the cheap stuff, but well worth it.