Here are some thoughts: --deleted-- * Consider assigning a GUID to the ext3 partition instead of a label. Labels are certainly simpler, but a GUID is more likely to be unique (though I'm sure you could come up with a pretty unique but still simple label...).
There is a length limit on labels, 16 characters for ext2/3, according to the e2label command man page.
Labels are fine for disks that are fixed to one machine, use the GUID to be sure you have a unique value per disk/partition between multiple systems.
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