I name them, but just as often as not, it's a simple name or a joke. I presently have on tap: "Into the Boards", a Czech lager I brewed when the hockey playoffs were underway; "Redheaded Stepchild", a red ale; "Not as Bitter", an English bitter, and "Ed's Smoked Honey Wheat", a recipe using those ingredients by the owner of my LHBS that took a silver at NHC a few years back. But as to labels - the blue tape route is what I use on my kegs. Even then, it is just so I can tell them apart before loading them into the serving fridge. I use dry erase magnetic strips to label the taps on the fridge...all that said, I appreciate the talents of those who design some outstanding labels.