I must have posted the red Hügi hubs I got for this bike at some point...I've now got a few sets of Araya RM-20 rims to build a new wheelset for this thing and have replacements, just in case.
There is not much wrong with the M231s, but they do seem a little flimsy. I tend to go easy on them, because I do not fully trust them.
I've got a wheelset with a pair of RM-20s where I had a nasty hit to the front wheel and the rim side wall was bent out severly. The side wall was hammered back in shape and, despite a little hickup while using the brakes, the wheel is fine.
My confidence in these rims is much higher.
The XTR/M231 wheels will be kept in storage for my kids, once they grow tall enough.
As for the wheel build, I'll be using aluminium nipples mimicking the colours of the RM-20 decals: silver, yellow, light green and dark green. The rims themselves are the grey hard-anodized ones.
And yes, red hubs on a red frame might look odd, but the paint on the frame is so bad, a respray is definitely on the cards at some point.