Waxing car with vinyl graphics

After the winter's travails, I am planning to do an exterior detail on the Zhang Heng. I was told by the fellow that did the vinyl graphics not to try to wax them.

Does anyone have any tips on how to polish and wax a vehicle with lots of graphics? My own thinking says to just polish and wax around them, and by hand smooth out any transitions near the graphics.

And will 303 Protectorant help the graphics last?