For me its all about contrast....black wheels on a light colored cars can pull it off the best.
I would say it is becoming increasingly "played out" but the worst culprit is matte black since it has that dull finish which appears cheap (i.e. plastadip). I always advise customers to do a semi-gloss so they at least retain some depth.
I'm out on the "murdered-out" ....way too played out....and I feel I can say this because my 07 335i was
-Scott
OT, here is my latest experiment, it's a satin dark bronze. However, I had to torture the picture in Instagram to get the color to show through.