Heres a side by side comparison between both painted and non-painted. My car has the painted ring and I love it. I'am not a big fan of chrome on THIS car, I have choosen to paint the front and rear chrome pieces, and the sail panels. If it is all done the right way it can look very classy. However, everyone is subject to their own opinion and i know a lot of people who have opted to keep their ring chrome.
I have to say I have had more positive comments with the chrome removed then when I had it. Look around, there are bound to be some pics of cars with silver rings. You already know what it looks like chromed and it is the easiest choice you have. I think on a silver car which is light color, I would shy away from black or greys, when viewed from a distance, the car may look like it is missing the grill.
Heres a pic of my car and another NE-CEGer with the chrome ring: