Plasti-dip is better, here's why.
Unless you get the precut vinyl perfectly cut to our bowties, it is a pain to cut perfectly with the small clearances between the chrome and gold. Also, you can easily get air bubbles behind the vinyl that are hard to get out, not impossible, but hard to get rid of.
I have had plasti-dip on both of my bowties for almost a year and a half now, and they both look as good as they did on day one. I live in NY and they have through salt, snow, rain, bugs, and they are both perfect (The rear one actually gets more salt because the sedan trunk gets covered).
Plasti-dip is impossible to mess up, and you can easily remove it whenever you want, I'd say it comes off easier than vinyl does.
My plasti-dip experience? My buddy's 2008 Charger (the entire car), my bowties and sonic word, my friends lancer (rims and front bumper), my rims....