Even though its a ot of work, I think I'l be much happier using the adhesive vinyl. Looks much more in scale.
And if its TOO thin, I couild double it up.
Also, I'm thinking it will be best to paint its first coat before I apply it so I have minimal paint to apply once its done, and to minimize paint build-up where the micro milimeter-high vertical edge of the vinyl meets the model's surface...