I can not say anything about the wheels as I have kept my OEM, although I have got installed power steering and I LOVE IT... I will definitely recommend it to anyone who owns an Alto. Drive pleasure is great, cornering and parking is very easy now, steering feels light as feather.... LOVE IT!
EDIT: The usual questions I get asked after this, I am answering them now
No, it does not require ANY alteration, EPS(power steering) is bolt on fit from Japanese Alto
Yes, the steering gets HARD when the car goes above 60km/hr or a specific RPM is achieved
Two wires are taken from the EPS unit, one is attached to meter and other to engine bay RPM cable.
EPS+Installation cost was Rs.4,200