I love that thing! I have been able to make actual labels, but I had to format it up in Open Office as a slide, but it works and can be done. It might take a few tries (my HP inkjet thinks it's 1/4" different than tyhe actual settings) but it's very workable.
I repaired a Berzerk! cart this way, the results are nice! Getting the end label was a bit tricky, but I nailed it.