In the '60's to early '70's, These were the lug nuts used. They were solid and chromed. For the most part – a well made nut.
I'm not sure when (late '70's or early '80's, they went to a bulged nut that had a stainless steel cap on the end.
These nuts are, well, (insert your own four-letter word here), just not worth wasting any money on. They will fall apart. The middle part is prong to rusting – and/or worse, leaving behind threads on lug studs (cross-threading) and other malady's. The Right-most nut (above picture is a much better solid nut (but also more expensive).
Being I have removed many a wheel, I much prefer the longer nuts. I also think the wheel pictured (above) looks better with the longer nut. That said, most (if not all) of the longer nuts do not have the bulge on them until more recently, The bugle nuts do seam to prevent damage to the wheel where nuts contact it at.
I will not recommend the “capped” nut to anyone, even my worst enemy. A solid version of the short nut is a good nut – but I still prefer the longer version (which now comes bulged).
This set is a nice set (IMO)
Wheels can come and go. My opinion is to spend the extra money and get a good set of lugnuts. I've changed enough broken/cross-threaded lug studs to not do any more.
This style nut is OK - but should always be behind a hubcap (out of the weather).
BudW