No they are not real bead locks, but bead locks are not generally street legal (although usualy not enforced except at inspection time). Most real bead locks leak also, or the good ones that are claimed not to leak are very expensive. They are not very good for a daily driver.
I like the look of the classic locks alot (very tough looking), but most four wheelers know they are fake so sometimes the cool factor gets discounted. I'm still trying to decide what rims I want and am also trying to go aluminum at about $100 a pop.