I bought a stand like the one kzdcw has , and after I got it level and plumb it works great for balancing.
the 4 roller bearings are key to getting a good balance, not the 40 year old wheel bearings in the hub.
I have a set of Buchanan's for a 18" rear that I tried to do a few years back before getting the new stand and I chickened out because of a bad rim,
I would like to give it another shot with a better rim some day but I am a little apprehensive about it, you can't get it wrong.
The wheels should be able to take you straight down the road at 100+ mph, with no room for error.
Even if you send your rim out to have it done by a pro, having a well set up truing stand is a must if you change your own tires, IMO