I never thought of it until the hotrod decals for my build off bike. I wanted thicker vinyl, but this photo quality decal paper worked fine. Long term I don't know yet.
Clear coat over it and it's as durable as the clear coat. Probably fades in continual sun, but with it kept indoors, I have five years or so on one of my bikes and they haven't faded.
I have that same bike! Repro bee decals are available on eBay. Can't remember he username, but his name is Bruce. I have one on my black renegade 5 speed and it looks great!