Yes, just using labels is much easier to wrap your head around, easier to set and easier to remember. UUID must have some advantages over labels since everything is moving in that direction but I haven't found them yet.
Two things I found out while excluding my Windows partition from mounting. Thought maybe they could be added to the first post so others don't have to go searching?
From Leopard on you need to use vifs to create and edit /etc/fstab, or at least you should.
Also, you might find that /etc/fstab is ignored and your partition still mounts. Two things to try
Code:
sudo defaults write /Library/Preferences/SystemConfiguration/autodiskmount AutomountDisksWithoutUserLogin -bool true
Instead of using "none" for the mountpoint use the normal location i.e. /Volumes/WindowsXP along with the ro,noauto options.
Also, MacFUSE/NTFS-3G is awesome, a little slow compared to the normal NTFS-3G but still.