Stock wheels on a '73 would be stamped steel.
Are you trying to polish up steel wheels or some vintage alloy wheels?
I cleaned up some stock '73 Mach1 aluminum wheels on my trailer with a cotton polishing insert in my drill. Bought online but just saw the same thing yesterday in Harbor Freight. I used Met-All aluminum polish, but other stuff such as Mothers will work as well. Didn't fix any of the nicks but on the smooth stuff it took the dull white away and made it shiny again. Put some car was on to keep it shiny longer (It was what was in the garage cabinet, and compared to some test pieces that went untreated the wax is working to keep the shine).