Jay,
Replacing sections of the stripe just makes it look worse. I've replaced mine 
twice over the years and it's come out looking good both times. It takes two 
people. One to handle the roll of striping and peeling the backing paper away, 
pulling it tight and the second person to smooth it over the hull with a 
plastic squeegee. Once it's down, it's extremely hard to pull up if you have to 
move it and you may stretch the striping.
Where the two stripes cross at the bow, use a razor blade to cut through both 
stripes and you will have a nice clean butt joint.

Rummy