Wheels can be distorted or bent and not effect dry road handling to a noticeable degree. Out of round wheels will show up as uneven tire wear, or make it difficult to balance the tires. Without special tools it is difficult to check wheel radial run-out. It would be best to ask the shop that balances the tires for you to do this. But a good visual inspection will usually reveal any problems.
Look for any bends or cracks. Not all repairs can be made to a wheel. If a wheel has any repair marks like welds or patches it should be discarded. Steel wheels that have slight bends where the tire meets the wheel doesn't mean the wheel is bad. Many times this is cause by the tire changing machine and can be hammered back into shape. This will only work on steel wheels not alloy or aluminum. If a wheel had a little bend in this area and had been repair it should be rebalanced and placed in a tank of water to check for leaks.
Another way to check for leaks where the wheel and tire meet is to lay the wheel flat on the ground. Place dish detergent and water solution around the wheel and wait a few minutes. If there is a slow leak you will see suds. Flip the tire over and repeat this procedure. If a leak is found the tire must be removed from the wheel. Then the tire bead and wheel rim must be cleaned, lubricated and reassembled. Always recheck to make sure the leak is fixed.