Side hull vinyl lettering alignment question

[erebus]

So I've got the new vinyl lettering for my 18SF.
The name is going on each side of the hull just ahead of the SeaCraft logo.
Its about 36 inches long and for added difficulty is on a curve.

My question is this:

Do you align the lettering equidistant down from the rubrail, or align it equidistant up from the water-line?
Cause in this region of the side hull, they dont follow along together.
Put it right in the middle? Cheat it towards the top?
Maybe fudge it somewhere in between?
I laid it out a number of ways and cant decide (out of the water) what looks right.
I looked around at some other boats in the harbor (grady's, whalers, regulators) and it looks like the name is most usually aligned with the rub rail.

I know I'll have to lay it out and play around, just wondered if there were any opinions based on experience or whatever to maybe give me a shove in the right direction.