I'm sharing this since painting has been a popular topic around here lately. Usually we have always used the Scotch painters' tape (blue):
When we started painting at the new duplex, however, I asked the guy at Menards about this stuff that I saw sitting on the shelf:

(It says "Precision" on the label and I was like "Hmmpf.. what a great way to get me to spend an additional $1 by teasing me with something like that.")
He said "If you want a clean line, that's going to be better than Scotch." Into my basket went 3 rolls. LOL
And it actually worked pretty well (much better than the Scotch brand.) I used it along the ceiling instead of an edger, along the baseboards, and where we were stopping painting from room to room (like this living room wall, but not the archway/doorway into the dining room). I highly recommend it, but it claims to have a 14-day release, which I didn't necessarily find. I taped off the entire living room on Sunday and when I went back to paint Monday, some of it along the ceiling had gotten loose around the edges. It still was better than the Scotch brand, hands down, but I can't imagine if I'd taped it and not painted for a few days.
I just used it again in the bathroom where we painted three of the walls beige and the 4th wall tan. It worked very well, but pulled up some of the old paint when I removed it (<24 hours sitting on the walls/ceiling where it pulled the paint off; so I had to spackle it, sand, and then repaint those spots.) It came off clean from the new paint, though, so I'm thinking the old paint was just dried out and brittle and therefore the adhesive was too strong for it. The only spot it wasn't a precise line was where the corner was kind of jagged and then most people would've left it, I'm sure. (Greg thought it was fine - I touched it up with the little bitty brushes and was done in ~10 minutes.)
Re: Painter's Mate Green - Precision (Product Review)
oohhh, I've never seen that brand. We (well my mum) used the new Frog tape on Jack's room, it left a nice crisp line BUT it left a lot of reside on the walls where the stripes are.