I absolutely hated the Wrangler RT/S that came stock with my Sport Trac.
But I generally hate any low traction cheap all season stock tires, so I wouldn't know if the Michelin is any better.
I don't know what the wheels are worth, look around in the classifieds or ebay to compare. Personally I would have sold the 16's from my Sport Trac for a few hundred bucks, and the tires would basically be 'free' because I don't like them at all.
It depends on what they are worth to you. There are a lot of aftermarket wheels out there that are nice, and inexpensive.
Keep in mind that 16" tires normally cost a little more than 15" tires when it comes time for replacement as well.
2006 F150 FX4 Super Crew - Bilstien 5100s leveled 2", 35" KM2s, 4.56 gears, Detroit locker, Eaton E-Locker, Traction Bars, AEM intake, Xcal 2
2010 VW Golf TDI 6MT