I was migrating some data to some new disks and since the drive letters would be changing once the old disks were removed, I partitioned them and gave them label names.
The original disks had labels like:
boot srv tmp
On the new disk I thought good names would be: /boot /srv /tmp
(I think Redhat actually names things this way by default?)
Anyhow, to make a long story short, mount by label ignores the leading slash. When the system rebooted, as predicted the drives came up in a different order so a "mount LABEL=srv" will actually mount the first disk named either "/srv" or "srv" which is obviously not good.
I don't know if this is just a bug or intentional.