I swear by the "wash" method to paint recessed areas like this. Essentially, paint the entire area black, then almost immediately (paint's still tacky, but not running wet) start rubbing the paint off the raised lettering and edges with a rag soaked in paint thinner/mineral spirits. You get a much crisper edge, and it's a lot less hassle then trying to detail paint around everything.
Your milage may vary, of course.
