While you can't exactly recreate the lacquer paint with the modern BC/CC, you can get fairly close; however, Camaro judging gives a "pass" when it comes to this (the largest area of the car) as far as restoring as they rolled of the line.
Does it really matter if you can "feel" the stripe if the rest of the paint looks nothing like factory? A $20K flawless paint job that in no way looks like factory, but you can feel the stripe edge.... I know that "it is what it is" for judging, but it does seem a bit silly, doesn't it?