There are many more reasons to buy one type or the other. The main advantage of the aluminum wheel over the steel wheel would be weight. I never weighted my Alcoa's, but they are atleast 10lbs lighter then the steel wheels. Un-sprung weight is hard to reduce, and the best method is usually aluminum wheels. There is a formula that says for every 1lb of un-sprung weight you loose, it equates to 5 HP. This is a lot of free hoursepower, but like I said, un-sprung weight is hard to reduse. Other methods that are popular in this quest to reduce un-sprung weight, include lighted rotors, and light weight calipers, aluminum drive shafts, and lighter tires. The added performance to a dually after switching to aluminum wheels is noticable, the truck feels lighter and take offs are quicker.
Steel wheels are cheap! That is why the come standard on most truck models. They are trouble free, and easy to make. Factory aluminum wheels are clear coated, and yes they will peal after some time. It's a shame too, clear coating is none solely to apeaz the lazy. Most people don't want to take the time and clean there shiny aluminum wheels like they should. So the factories and many aftermarket wheel manufactories offer clear coated wheels. They do look good for away, and since we live in a time where most rent (lease) there vehicles and only care about the 2,3 or 4 years that they will have it, this is the solution that seems to please most people. I would never buy an aluminum wheel that has been clear coated, you are stuck. You can not polish or repair the wheel unless you first remove all of the clear. Good aluminum wheels are actually very easy to maintain, just wash them when you wash the car, and apply some polish every once and a while.
Also, we are talking about FORGED wheels not CAST. Cast wheels are getting phased out, they do have a bad habbit of leaking and cracking. They are much cheaper to make, which is one reason they have held on for so long, but no-one makes a cast wheel that will carry the load needed by the 2500-3500 HD trucks. Forged wheels are very tough, they will deflect and hold together. They are also repairable it damaged. The forgeing process elliminates most of the purosity, which was responsible for the leaks, and is also the part that makes them strong. Forged wheels are usually better balanced, and give less trouble. The wheel weights can be and is most often, stuck on to the inside lip area of the wheel. This perserves the outer lip and will also help with coated wheel.
There is alot to be gained by switching to aluminum wheels, our trucks are some of the most heavy steel wheel users, and the switch can be binafical. Are the steel wheel that much tougher? I don't think so, most every off-road desert racing team I have seen uses the forged aluminum wheel, the benifits from their use far out weight any concerns.
Factory wheels are for some people a great option, for me... I would go with an aftermarket wheel once the truck was bought.