I think this subject is strictly a matter of personal preference. I like the all black look. My coupe is black with black wheels, black wall tires and a black frame but with some chrome on the front suspension. I've posted enough pics of it already so I don't want to keep posting them. I wanted the car to have a gritty, all business look to it with just enough glitz to keep the eye interested. If I were building a hot rod that I wanted to look more refined, I'd probably paint it like Don's T or something similar. I've now seen that car in person and it's very nice. The contrasting colors highlight the different parts of the car and the color choice is great. The satin black on Boneheads cab, chassis, and suspension looks great too. He has some color on the engine, alum/chrome wheels, and one of his skulls and a spiderweb grill to break things up nicely but it still has a nasty mean look.
So, really I think it's all a matter of what you think is pleasing to you on the particular car that you are building. Sometimes, no color at all looks good. Just the patina. So I'll repeat, it all depends on the car and the owners personal choices in my opinion.