Well the simple answer is if the decal lines up with the raised details then yes, that usually looks great.
As mentioned above you have many options.
Personally I'll cut up a decal if the details are good, otherwise I'll just paint the dials in.
One of my most used tricks is to paint the entire guage panel black and fill in the guages with thinned white paint and then maybe a black wash to pick out the details before I add some gloss to simulate the glass. With some practice it looks pretty good.
The best guage panel I've done so far was the one in the 1/48 Airfix P-40B. The decal fit like a glove. In contrast the guage decal for my 1/48 Tamiya guage panel had to be "massaged" into place because it wasn't lining up with the raised details as well. I ended up cutting part of it away and repositioning it.
So you have many options here to explore. Get creative and make sure you have fun with it.