The only wreck that is definately worth a dive or 5 is the Zenobia.That's not in Paphos though,it's in Larnaca.
Best bet is to hire a car,rental is faily cheap and there is so much to see in Cyprus.
Make sure you go with a reputable dive school-no cowboys!!! I can recommend who I did a couple of dives with recently if you like....check out their website www.dolphindivingcentre.com
They are very proffessional, run by a Greek and a guy from the UK which is nice.
Enjoy Cyprus when you get here!