The Castro-era (Tony, not Fidel
) CS boats used tape for the boot stripes. The area of the stem was left with the 'flip-up' as the tape wrapped the stem. Our boat also has a tape boot stripe, with the tape layered under the counter for width. A painted stripe can be taped to be consistent around the bow, and widened out to be visually the same width under the counter (not an easy task, though)
Floating debris between our finger float and the boat is beating up the tape a bit, but so far it's in a low visibility area. When the time comes we'll paint.
One minor advantage using tape, if you're on a short haul-out the travel lift will damage uncured paint whereas the tape may handle it better. OTOH it's usually possible to arrange some blocking so that the travel lift straps don't smear freshly painted stripes.