Dude - I don't know how the Frisket works, but this stuff works great. http://www.signwarehouse.com/p-VOR813-2410-STMSKB.html The Cameo cuts it right out of the box while leaving the backing intact. Don't even need the cutting board. Then apply it with this - http://www.signwarehouse.com/p-AP-AT60-12.html
This is what I use for sign making at work and also used it to make my own stencils to repaint my 6M$M. I don't know what the price comparison is, but it seems reasonable. Just another option. Anxiously waiting to see how your hard work turns out!