Yes, it comes off really easily, as long as you pre coat the tires with any kind of tire dressing. Also, when you paint the wheels, don't try to keep it off the tires. paint right over them too. If the dip is too thin on tires, (or any surface), or if you spray from too far away, it's hard to peal off. after the first light coat, you want full, heavy coats each time and let them dry at least 20 minutes each time. Just be careful you don't spray so heavy you get runs.
Looking forward to seeing your results... is that Bondo you are using for the filler?