Recommended stenciling techniques?

I’m in the process of modding a playtech fighting stick after seeing d3v’s beautiful mod. Anyway I’ve been struggling to get my stenciling to come out clean. I’m using vinyl letter stencils that I bought from hobby lobby and spray paint. The letters are not looking clean.

Should I let the paint dry fully before I remove the stencils? I have been using painters tape to hold them in place.

Should I scrap the spray paint and use acrylic paint?

Any helpful suggestions will be appreciated