Usually that's my last resort when plastics are in danger of being damaged by rubbing.
First, I usually install proctectors, if available. If not, then PETG washers.
Also, if it's a nail that's rubbing (usually in older games to prevent balls from getting trapped), I hammer it in a bit more.
Mylar is usually my last resort since it's doubtful the artwork would survive upon removal, especially for older plastics. But, I have used it in certain cases. It's just not generally my first choice.