LazaLabl (32-bit) lets you create labels, business cards, conference badges, serialized tickets, and more.
It supports popular label and card formats from major manufacturers, and can also be user configured. You can compose graphics using any combination of lines, rectangles, ellipses, and polygonal figures. Lines and fills can be colored from a 125 color palette. It can import WMP as well as bitmapped graphics in several of the popular formats (BMP, TIF, PCX, PNG). Text can be rendered in all your TrueType fonts, in various orientations (normal, up, down, inverted, rotated, and circular). And you can render characters as outlines, filled with or without color. Text can be imported from paragraph delimited text files, or from delimited text.
Labels and cards are created in "layers" (on a business card for example, your name, address, logo, etc. would all be created on a separate "layer") and then superimposed.