I have a 65 in Flamboyant Red that does not have the decals, and a black 1966 that also does not. Both are 'Deluxe Racer" models with chrome fenders and single speed coaster brakes. A buddy has a near identical '65 to mine, but in a smaller frame, and his has the banded decals. His is also a Deluxe Racer.
Judging by the catalog pics, the bands seem to go with the chrome fenders but my examples here don't follow that idea.
I have a '62 3 speed in pieces in the basement that has the decals, in a 24" frame with chrome fenders that's not marked Deluxe.
When painting or painting various features on a bike or any vehicle, what I always do is to take a photo of a factory version, then use Paint to add some intersecting reference lines that will give you a point of comparison or measurement for the decals or paint work.
Something like this:
Using a string or straight edge, you can then find the correct location for the bike being worked on.
Use the axles, frame tube intersections, crank axle, caliper mounts etc. Braze ons work too but try and find a pic of a same or similar size bike.
A rough guess judging by your pic, the top tube decals are about 1" ahead of the rear braze on, and 1/2" behind the front one,
The down tube decal appears to be the same distance from the Schwinn decal as is the front of the chainguard where it passed in front of the DT.
The seat post decal has its lower red band at the point where an intersecting line between the TT forward braze on and the rear axle.
I would do the comparison to several bikes, its hard to tell if all were the same or which bikes pictured have already been redone in the past.
Of course, having measurements of off the bike being worked on is best but a good pic is all you need.