Label...Our quilt guild has been making "opportunity" (read raffle) quilts for many years. Last meeting a member brought in one she won many years ago. Hand quilted, lovely piece of work...no label. Some of our members have been around along time and they think they can at least trace back to the year it was made and possible some of the members that might have contributed to making it. That would mean the world to the lady that owns it. So label is good. It can be removed if it is re-gifted.
Signature...I do mine on the embroidery machine. I can't write worth a flip, you couldn't read what it said if I did...so the object of a label is to know who and when and perhaps why (graduation, birthday, etc) so if you can't read it because I shoulda' been a doctor, or because it faded, what good is it? Hand embroidering over your sig is a wonderful way to preserve it, and it certainly makes it very personal. But IMHO, I have chosen a pattern, fabric, cut, sewn, pieced, bordered, quilted the thing VERY PERSONALLY! So my label isn't my "real" sig, I don't really think it matters to my DG kids, or my kids, or my friends...they love the quilts...labels are personalized with cats or giraffes, etc, and not gaudy and I don't care what city I happen to be living in when I make it...I just want it finished and delivered and loved.