IO have had two NOS Mustang Steering Wheels over the years ; a black one for my 66 and a Gold (Ivy Gold) one for my 67. Based on both of them, I would agree with Charles that they are shiny, but not 100% glossy. As a matter of fact, based on that I painted the wheels (for tires, not Steering Wheels) 60% gloss, I would say that the Steering Wheels are closer to Semi-Gloss.
As far as paint, like the story Jim related above about the Steering Wheel being painted with epoxy, I was always under the impression that epoxy was the way to go with Steering Wheels - until about 10 years ago. Back in the early 80's, when I was doing the Interior of my 59 Ranchero, epoxy colors were limited on "shades". It always upset me because I couldn't find any that were a close match to the Torch Red of the rest of the Interior. Then, about 10 years ago, I noted that epoxy colors were available in just about any color imaginable. As I have done for many years in regard to paint, I called my friend Dave in St. Louis. Dave was one of three of us in the neighborhood who had been "into cars" since Grade School. Dave carried the hobby further than the other two of us by going to work for a large car Collector in St. Louis, restoring many rare antique cars, before starting his own Restoration Business in the Late 70's, early 80's. He has restored everything from Moons, to Model A's, early 30's Fords, 50's and 60's cars, and at least half a dozen Barris originals. While Dave has always had his old "stand-by's" as far as paint goes, he would usually try new things on the Market, "just to see". Thus, I thought to consult him on what type, brand, etc. of epoxy to use on Steering Wheels. To my shock, he said he had never used epoxy on Steering Wheels, but had always used Acrylic Enamel with Gloss Hardener, and added flattener if necessary. No epoxy mixing, baking, etc. ; just paint. He said that over the 35 or so years that he had been doing that, he had never had any problems. That was good enough for me. So when I get the urge to redo my Ranchero Steering Wheel, that's the route I am going.
Just something you might think about before getting "caught up" with epoxy.
Bob