Cartwheel Lustre Question

You're on the right track

From the CCF Glossary:
luster
In numismatics, the amount and strength of light reflected from a coin's surface or its original mint bloom. Luster is the result of light reflecting on the flow lines, whether visible or not.

Or you can check this thread out where BadThad made a video. It's not the best quality but you get the point
http://www.coincommunity.com/forum/...PIC_ID=64070

That is basically correct.

Cartwheel lustre comes about as the result of radial metal flow away from the centre of the planchet, as the dies press their way into the planchet. That movement of metal takes place in a small fraction of a second.

To be strictly correct, coins are not struck, they are pressed.
Even with ancient coins, it is the the hammer that strikes the top of the die, not the die striking the coin.

That is the reason why the word 'strike' has continued to be used, when coins are actually pressed to receive the impression.

The radial ridges are microscopically tiny, but are enough to interfere with the way that light falls on the coin. Their micorscopic height explains why they wear away very easily.

Polish proof coins don't generally display any cartwheel lustre. Both the planchets and the blanks of these coins are diamond polished smooth, to produce the mirror effect that is seen in the fields of the coin.

Unpolished dies and blanks are used for business strikes. Die wear has no effect on die lustre, except probably when very new dies are used.