Thanks guys for all your input.
Cameo has been on sale for some time now, got the starter pack but did not try cutting yet.
I have a very clean F-14 with the lifted inserts and worn decals and some damage on side cabinet. The inserts have been re-glued but I was still hesitant on the course of action with the decal. Your experience shared here is beyond helpful, and I am sure it will save me a lot of frustration getting this done right.
Cheers!