Stick with the vinyl. I've had my matte black stripes on for two years now, and it's holding up extremely well. I wax over them as I go, and have had no ill effects. The only downside to the wax is you'll have to go back over all the inner and outer edges with a detail brush to get the leftover dried wax out. Kinda of a pita, but hey. I don't think (personal opinion) that painted on stripes would have the same look and texture as the vinyl. Replacing and/or removing vinyl is cheap and easy. Changing your mind on painted on stripes... not so much!
Also, don't use microfiber cloths on them when they are hot, such as out in the sun at a car show. When the stripes get super hot, they get very soft. Even gentle rubbing when hot can leave scratches in them. Ask me how I know!