more importantly, for gash projects, do your labelling in "MS Presentation" (.ppt), Draw a small cross for the centre of your holes. Print out on rough paper, tape to unit/front panel, drill holes through crosses. Remove rough paper and open up holes. Print the actually big label, stick scriber through a cross to align with the holes, stick on. For durability cover with big sticky backed plastic (sold for protecting books). Does yellow slightly after a couple of years but is good and tough. Clear out holes using a countersink drill.
Very cheap and practical.
Frank