Jay - another consideration for you: if you go with decals under clear, should you ever need to repair the paint/metal of the tank, forget it either taped decals. Paint can be more easily repaired.
For me, paint in your situation is a better solution and will yield a higher-end look. Tape can be really well done also, but there will be an edge of the paint thickness unless you really overcoat the color with more clear coats. Those added coats interfere with the best color of the paint being revealed (shine/depth/reflectivity).
These are more technical "issues" about paint vs tape, but you are spending a great deal of time and money now. Amortize the cost over 10-20 years of ownership on a beautiful bike. You'll never regret the added expense compared to the beauty. And I'll bet you dollars to donuts, the painted job will turn heads more... Simply because the paint WILL be a better result by virtue of fewer coats of clear.
My opinion, your bike, your wallet. Either way, love to see some pics as you close in on it.