I have tried iPhone 5 skins/wraps from many different vendors, both textured/colorful and clear. Of all of the side wraps I've purchased/researched, Sticker boy is far and away the best as far as cut and fit. Their extreme fit side wrap is almost perfect as far as coverage and alignment and yet it is not very difficult to install. Absolutely no one has realized it is a skin that I am using and not the original design of the phone.
Sticker boy also has a much better fit on the back in my opinion than other iPhone 5 skins I have tried. They are cut slightly smaller than the phone around the edges on the back, which I assume is to allow for better compatibility with cases, but I prefer that to a more full-coverage wrap that extends over the edges of the phone... Also, if you are using a case, you should be aware that side skins in general can affect the fit, especially with very thin cases. I've had no problems with bumpers fitting correctly with side skins.
Here are a couple of pictures of skins I've tried.
The skin in these pictures is the Sticker boy 2-tone back and sides in Slate Jet Black Brushed and Black Stealth (top and bottom pieces in the latter shade). They will include the Apple logo cutout, but you have to ask for it in the "Additional Instructions" part of your order during checkout.
Note: the misalignment of the top and bottom skins in the first picture are due to my crappy install, not the cut of the skin. I improved my technique later on, but that was my first try. In the bottom picture, the top and bottom cut outs are in Black (Antibacterial) Powder Coated and they are paired with the Photive Hybrid bumper.