That link is interesting? I guess it really depends on whether or not you want to repaint the frame or not?
In the link there really wasn't any reason to mask around the sanded area, in fact if you are careful sanding you shouldn't mask at all, when you sand up to the tape as shown in the picture it will leave a definite line even after you polish it. You really need to feather out the sanding so there aren't any lines when you polish.
What they did in that link was just remove a problem area by sanding the clear coat off (you can tell by looking at the picture) and polish the carbon to where it had a shine similar to the clear coat.
If you just have paint peeling in one area this might work, if it is peeling on the entire frame it would be a lot more work but could be done in much the same manner.
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