Thank you so much for posting these. Looks like your wheel's condition is VERY similar to mine...very large cracks and spacing. Helps me visualize the process if I tackle mine someday. Looks like you have done very nice work.
I do not know the answer about "correct" color, but I agree that true gloss black would NOT be what I would want, nor would I expect that to be correct.
I do believe some type of satin black would look much better. If I do mine, I will be striving to match the gloss level of the rest of my plastic steering column parts, or if I can't get close enough I'll just shoot those in the exact same steering wheel satin black that I settle on as being "close enough"...whether gloss level is exactly correct or not, the wheel has simply gotta match the column IMO.