Not immeadiately after painting but before it's completely dry, yes. What I do is mask it up so I can pull the tape from the line without having to unmask the whole car. That gives you something to hold (albeit cover in paint!) while you carefull peel the tape away.
What i do is cover the area to me masked down to withing about 4 or 5mm of the line the add a final strip of tape to define the edge last. Then a couple of minuts after putting the paint on a peel that strip off. Seems to work nicely but is pretty risky in terms of getting little bits of crap in the fresh paint. I usually wait until the paint has just gone touch dry on the surface before pulling the tape as it reduces the risk a bit.