For me, apart from around pops avoid it like the plague on EMs. As it ages blisters & curls to me it destroys a game. Just spent countless hours removing this nightmare. Just my opinion.

Mylar

Also, not sure if it'd affect the paint

If you wax good before you put it down, Vid says it isn't as hard to remove and doesn't cause the damage. I think its not a bad idea. Just my 2cents...

I use non-adhesive Mylars for pop bumpers and small round adhesive ones for Kickout Holes as these are the two main areas for damage to occur.

I have used adhesive Mylars for Slingshots but only if that area is already worn badly and needs protection before all the ink is worn off.

When you do that, all the grit and black dust can get under the mylar and get ground into the playfield.

Mylar squares are great to protect the face of drop and roto targets. Makes the dirt line easier to clean and protects the delicate inks on the faces.

That's why I clean/wax my Playfield when it looks like it is starting to get dirty and change out the ball. Easy to lift the non adhesive Mylar and clean under them too. Never had any issues with ground in dirt on my Playfields, as a matter of fact, if there was already ground in dirt from previous owners it gets loosened and picked up over time making my playfields look better, not worse for the wear. It's called maintenance and those that don't do it need to get auto cleared playfields which seem like the majority of folks thinking these days.

Just my 2 cents once again.

I use "removable mylar". Cut to size and comes right off nice and easy. Have it somewhere on nearly all of my games.
http://www.avery.com/avery/en_us/Products/General-Supplies/Sheet-Protectors/Laminating-Sheets_73601.htm

Myler is a great name for a boy.

Put the mylar on the roto targets. Watch for mylar to wear. Then remove the old mylar and re-apply new layers again. In a home situation that new mylar may need to be changed every 2 years,, Maybe.

The only issue will be paint loss when lifting the mylar, it could happen.