I used these on one of my guitars that did not have dots on the fretboard and also it was my 7 string guitar, so it was a new world for me. To be honest i got these just to help me out get used to the extra string and not lose my way up to the fretboard while shredding.
Other than that it looks quite cool, especially if you have a guitar and it feels like something can be put on it. It's one easy way to change the looks little bit. After all its personal preference.
As for the application if you read the guide carefully and follow the steps you will get it placed perfectly on the fretboard. It shouldn't take you more than 20 minutes.
After some time the stickers might fade out, as my hands get sweaty quite often.