I agree that a version of wheel #1 (with the bends closer to the centre of the wheel) would seem to be more correct.
The wheel shown on Nick's website looks to me to be very similar to wheel #1, with the bend lines close to the inner end of the slots. Am I missing something?
Acton Custom Enterprises Custom Metal for Cobra's
Further information on the pictured wheels....
Wheel #1 is a MotoLita "Cobra" wheel, selling price around $475
Wheel #2 is a MotoLita "Mk 3" wheel, selling price around $135
Wheel #3 is a MotoLita "Mustang" wheel, selling price around $375
Cheers,
Glen