We have also reworked VCS labeling as a Build Feature instead of options in the VCS Settings section: not to worry, your existing settings are converted automatically to the new format allowing more flexible configuration.
So does this mean that we can configure the labeling rules at the build config level, rather than having them all jumbled together in the VCS setup (in the case of a Subversion layout where there are several branches feeding the same tags directory)? If so, YES! 