Hi Bones-coa,
Before I rescribe raised panel lines, I usually check if the raised ones are more or less accurate. Most Monogram models have very accurate panel lines
I do these by refering to good 3-view scale line drawings of the model. These drawing are available on model magazines or references. I usually blow up or reduce the scale drawings so that it will have the same scale as the model you are going to build.
If accurate, I go ahead and rescribe the panel lines using the raised lines as guide. For straight lines, I use Dymo self adhesive tapes as my 'ruler'. For access panels, circles, squares, rectangles, etc, I use Eduard photoetch templates (not sure if these are still available) as guide. If i commit an error, I apply super glue on the line, sand it off when dry and rescribe again.
For rivets or panel screws, I use very small drill bits. Dont drill too deep though. [:0]
After all the scribing and drilling is complete, I sand off the raised details.
I resribe before assembly. Rescribing will require constant and hard handling that the assembled kit may be damaged. Qmiester gave a good suggestion by rescribing during sub assembly to avoid 'mismatched' lines at the joints.
Rescribing is tedious, but the results are worth it. So have patience!