Originally Posted by a2psyklnut
Try it though. You'll learn a lot on how to true a wheel on a wheel that is already trash, so it's good practice.
That's probably one of the most valuable things to come out of it all. Besides, it's always worth a shot because the only thing ever lost in a situation like that is a little bit of time.
BTW, not all aluminum weakens in the traditional sense when bent back. Some alloys actually work-harden (I imagine even in complex extrusions like rims). Of course, along with work-hardening comes a certain brittleness, which would make it more susceptible to breaking from a sharp blow. But the worst that can happen is that it'll re-taco if it got really slammed again.