I wrap my name and address around the bottom bracket cartridge when I've had reason to remove it. Same principle.
How do you do the label? I've been planning to do this on the next BB service.
Laser printed paper sandwiched between two layers of weatherproof transparent (think one step down from 'helicopter') tape. It's what I had to hand that seemed least likely to turn into an unreadable mess when wet.
Laminated label printer tape (the outdoor-rated stuff) would be even better.
Cudzo's point is an interesting one. I suppose it comes down to whether the bike gets sold on as-is (in which case being able to prove ownership is potentially useful) or stripped for parts. I doubt anyone's going to remove a bottom bracket unless they really need to, though, where a bar-end is likely to come off to remove the controls. Of course, you could just put a phone number or email address or something that doesn't identify a physical location.
To the one-up-from-opportunist crim, having stolen something is surely advertisement enough for more goods at the same address, as long as you wait long enough for insurance to do its thing. We're damned if we do, damned if we don't.